CHINA-ECONOMY: CAIXIN ANTICIPATES CHINA'S GDP IN 2022 COULD BE OFFICIALLY SET AT 5 OR 5.5 PER CENT
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Caixin (February 18) disclosed that each of China's 31 provincial-level governments have
announced their growth targets and policy goals for the new year when delivering their annual
work reports to local legislatures. It said the majority have set lower goals for 2022 than in the
previous year. Nearly half expect their GDP to grow around or lower than 6% this year, while
almost all had aimed to grow by more than 6% in 2021. Some of China's more developed
regions, such as Guangdong Province and Beijing, aim to grow their GDP by above 5% or
around 5.5% this year while Shanghai and Beijing's growth targets for 2022 are around 5.5%
and above 5%, respectively. Though China's development goals and government priorities for
the year will be announced at the annual session of the National People's Congress (NPC),
Caixin said several economists say these local goals indicate that the national GDP growth
target is also likely to be lower than last year's "above 6%," and could be 5% or 5.5%.
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