China focused on quality over quantitative growth with 5% GDP target: political advisor

Chinese premier Li Keqiang delivered a government work report on Sunday in which China set its annual GDP growth target at around 5 percent for 2023.

"This is probably slightly below the consensus expectation of the market," said Jin Li, a member of the Chinese People's Political Consultative Conference 14th National Committee and acting vice president at Southern University of Science and Technology in an interview with the People's Daily. "It suggests that the government has been very cautious and does not want to over-stimulate the economy."

Chinese policymakers have stressed qualitative over quantitative growth.

For more of Jin's insights on the Chinese economy and the country's elderly care system, click the video.

(Produced by Zhu Yurou; edited by Xie Runjia and Han Xiaomeng)