China set a moderate growth target for this year which would require no strong stimulus to achieve given the rebound the economy gained from the relaxation of the Covid pandemic restrictions.
Outgoing Premier Li Keqiang announced a growth target of around 5.0 percent in 2023 at the annual legislative session on Sunday as officials turn their focus on other areas like technology and infrastructure than mere economic indicators.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.