<p>Premier Li Keqiang's government work report was released on Sunday at the opening of the National People's Congress, part of the annual "Two Sessions" parliamentary meeting.</p><p>From it we have the 2023 economic growth target. Its on the low side at "around 5%":</p><ul><li>3% aim for the consumer price index (CPI)</li><li>5.5% jobless rate for people in cities, target of around 12 new urban jobs</li></ul><p>The work report called for implementing prudent monetary policy in a targeted way.</p><p>-</p><p>Analysts expectations for <a href="https://ift.tt/jGfR0ko" class="terms__main-term" id="22438661-6aff-4854-bfc8-fcc2084a48f0" target="_blank">GDP</a> centred aorund 5.5%, so this 5% is a disappointment. At the margin this should serve as a negative input for China stocks and China proxy trade (such as <a href="https://ift.tt/0w3geSr" class="terms__secondary-term" id="f268dd26-8a91-4e12-86ca-e02408705ff6" target="_blank">AUD</a>, AUD/USD is lower in very early Asia, circa 0.6747) </p> This article was written by Eamonn Sheridan at www.forexlive.com.

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