Chinese Provinces Cut 2022 Growth Targets Amid Headwinds

What’s new: Most Chinese provinces lowered their gross domestic product (GDP) growth targets for 2022 as the country struggles with headwinds from the pandemic and the plunging property market.

All of China’s 31 provincial-level governments except virus-stricken Tianjin issued 2022 growth targets, most of them lower than the 2021 expansion. Gansu in southwestern China was the only one that set a higher target. Inner Mongolia in the north expected the same growth as 2021.