China’s Provinces Vow to Meet GDP Targets Despite Growth Slump

Porters move sacks of clothing through the old garment district in Guangzhou, South China’s Guangdong province, in October. Photo: Bloomberg

(Bloomberg) — Several Chinese provinces pledged to meet their growth goals for the year even as top leaders downplayed the national target of “around 5.5%” after repeated Covid outbreaks and a property market slump.

At least 10 local governments explicitly said they will strive to hit their gross domestic product targets, and at least another seven said they’ll keep the goals in mind and do their best, an analysis of official reports published by the provinces shows. Several others pledged efforts to stabilize the economy.