BEIJING (Reuters) - The Chinese&nbsp;government&nbsp;on Sunday set a&nbsp;slightly&nbsp;lower&nbsp;annual&nbsp;economic&nbsp;growth&nbsp;target&nbsp;compared with last year's goal, as the world's second-biggest economy began to emerge from three years of severe COVID-19 restrictions.
China&nbsp;has set its 2023&nbsp;growth&nbsp;target&nbsp;for its economy at around 5%, according to a&nbsp;government&nbsp;work&nbsp;report&nbsp;released at the opening of the country's&nbsp;annual&nbsp;meeting of parliament on Sunday. That compares with its 2022&nbsp;target&nbsp;of around 5.5%.
The Chinese economy expanded 3% last year, significantly missing the 2022&nbsp;target&nbsp;and marking one of the slowest rates of&nbsp;growth&nbsp;in almost half a century.
A 2023&nbsp;government&nbsp;budget deficit&nbsp;target&nbsp;of 3.0% of gross domestic product has been set, according to the&nbsp;report, widening from a deficit goal of around 2.8% last year.
In the&nbsp;report,&nbsp;China&nbsp;has set a 2023&nbsp;target&nbsp;of around 3% for its Consumer Price Index (CPI), unchanged from its 2022&nbsp;target. The CPI rose 2.0% last year.
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(Reporting by Beijing Newsroom; editing by Jonathan Oatis)

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China sets slightly lower annual GDP growth target - government report