China's economy takes off running in 2023

Zhejiang province

East China's Zhejiang province adopted a newly revised set of regulations to foster the growth of its micro, small and medium enterprises at the annual session of the Zhejiang Provincial People's Congress in January.

The adoption of the new regulations marks the latest move for Zhejiang to further optimize its business environment by setting up a sounder institutional, legal and regulatory framework.

As one of the most vibrant places in China for the private economy, Zhejiang also organized recruitment fairs online and offline in other provincial-level regions to attract migrant workers, as companies expect rising factory orders and booming production after the holiday.

Zhejiang Provincial Department of Human Resources and Social Security said 106 recruitment trips and events to other provinces were organized in the first three weeks of January.

Zhejiang will achieve a minimum GDP growth rate of 5 percent in 2023, Wang Hao, the provincial governor, announced this target while delivering the government work report.