“China may aim for higher 2023 GDP growth target than the 4.5-5.5% proposed in November,” Reuters reported on Thursday, citing sources involved in policy discussions.

Additional takeaways

“China's GDP growth target could range between 5%-5.5%, and be as high as 6%.”

“China to stick to a long-standing inflation target of around 3%.”

Market reaction

Amidst risk aversion, the AUD/USD pair is failing to capitalize on the report suggesting optimistic Chinese growth prospects. The pair is trading 0.41% lower at daily lows near 0.6730.