'A little disappointing' -China's reopening challenge

STORY: China set an economic growth target for 2023 of around 5% on Sunday (March 5) as it kicked-off the annual session of its National People's Congress (NPC), which is poised to implement the biggest government shake-up in a decade.

China's gross domestic product (GDP) grew by just 3% last year, one of its worst showings in decades, squeezed by three years of COVID-19 restrictions, crisis in its vast property sector, a crackdown on private enterprise and weakening demand for Chinese exports.

On Monday (March 6), the commodity-linked materials sector .SPLRCM led decliners due to China's lower-than-expected growth target.