BEIJING - China has set its sights on expanding the economy by around 5 per cent in 2023, a more modest goal after it
Economic recovery has been high on Beijing’s agenda as the world’s second-largest economy faces growing challenges from its rivalry with the United States, widening income and wealth gaps, and a rapidly ageing population exacerbated by low fertility rates. It will try to maintain unemployment in urban areas at 5.5 per cent this year, just as it did for last year.
The NPC is expected to formally endorse Mr Xi for a third term as State President during the meetings.
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