China advisers to recommend lower 2022 GDP target

China advisers to recommend lower 2022 GDP target

advisors to china’s government willrecommend a 2022 economic growth targetbelow the one set for 2021 givingpolicymakers more room to pushstructural reforms amid growingchallenges to the outlookinvestors are closely watching for clueson next year’s policy and reform agendaas president xi jinping and other topleaders hold the annual central economicwork conference due this month threeadvisors told reuters they have drafted

recommendations ranging from as low as 5to 5.5 percent ahead of the closed-doormeeting down from the above six percenttarget set for 2021. the world’s secondlargest economy faces multiple headwindsheading into 2022 due to a propertydownturn and lockdowns and other curbs

that have impeded consumptionit staged an impressive rebound fromlast year’s health crisis slump but haslost momentum in recent months as italso grapples with slowing manufacturingthe advisors make policy proposals tothe government but are not part of thefinal decision-making processtop leaders traditionally endorse agrowth target at the december gatheringwhich is then announced at the annualparliament meeting usually held in march

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