Flat China CPI prompts calls to further bolster domestic demand

On track: An employee works on an aircraft at the Airbus SE plant for passenger jets in Tianjin. With an estimated 5.6% full-year growth rate, some analysts believe China will likely meet its preset annual growth target of around 5% in 2023. — Bloomberg

SHANGHAI: China’s consumer inflation remained flat while its factory-gate prices dropped further in June, indicating the still-weak demand and highlighting the necessity for more steps to expand effective demand and boost market confidence, analysts say.

Despite rising concerns over the weakening momentum of the post-pandemic recovery, analysts believe the country has the capability to achieve its gross domestic product (GDP) growth target of around 5% in 2023.