Ten experts forecast an average 2.7 per cent year-on-year rise in GDP, a sharp plunge from China’s 2021 growth of more than 8 per cent. Read more at straitstimes.com.
BEIJING - China’s economic growth for 2022 is expected to have been among its weakest in four decades after the twin crises of the pandemic and property woes, analysts said ahead of Tuesday’s announcement.
Beijing had set itself a growth target of around 5.5 per cent for 2022 but this was undermined by the government’s zero-Covid policy, which put the brakes on manufacturing activity and consumption. This is likely to reflect in 2022‘s fourth-quarter growth, which will also be announced on Tuesday alongside a series of other indicators such as retail, industrial production and employment.
“The three horse carriages of the Chinese economy are all facing a relatively evident downward pressure in the fourth quarter,” Dr Zhang said.
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