Caixin
Mar 05, 2022 10:37 AM
ECONOMY

Two Sessions: China Sets Lowest GDP Growth Target in More Than Three Decades

Photo: Li Xin/Xinhua
Photo: Li Xin/Xinhua

(Bloomberg) — China’s government has set its lowest economic growth target in more than 30 years, a sign the housing slump, stringent Covid controls and global risks will continue to curb demand.

Beijing will target GDP growth of around 5.5% this year, according to a prepared speech by Premier Li Keqiang at the opening of the National People’s Congress. Most economists surveyed by Bloomberg predicted that the government would set a range of 5%-5.5%.

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