The National People’s Congress of China has laid the groundwork for the nation’s long-term plan and post-pandemic economic recovery.
Demand for commodities
Li Keqiang, the outgoing prime minister, set a cautious 5% GDP growth target for 2023 on March 5. This is greater than the 3% growth rate attained in 2022 and will support the demand for commodities.
Nevertheless, it also indicates that Beijing would face challenges in maintaining moderate growth in the face of larger economic restructuring, financial risks from the real estate sector, and international uncertainties.
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Source: S&P Global
