01-13-2023, 11:42 AM
From stable CPI to rosy local GDP targets, more signs show China’s fast economic rebound
![[Image: 16d5aa36-ad7a-4dbb-8e9f-38e71421767c.jpeg]](https://www.globaltimes.cn/Portals/0/attachment/2023/2023-01-12/16d5aa36-ad7a-4dbb-8e9f-38e71421767c.jpeg)
Several economic indicators and other prominent signs on Thursday suggested that the Chinese economy is headed for a fast recovery and a world-leading growth rate in 2023, with latest inflation data showing price stability in 2022 despite huge pressure. As a result major local economic powerhouses in China have set rosy GDP growth targets for 2023 and there is also improving expectations for China's GDP growth this year from global firms and institutions.
All told, the world's second-largest economy is on track to become one of the fastest growing major economies in 2023, as many advanced economies are set to face serious slowdown and the global economy is "perilously close" to recession, according to various reports and economists, pointing to China's better-than-expected recovery from recent COVID-19 outbreaks.
Still, China's economy will face grim challenges and risks that the global economy as a whole will face, including elevated inflation and higher interest rates in some major economies like the US and rising economic and geopolitical tensions, which requires more effective measures to ensure stable economic operations, analysts noted.
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