China’s GDP growth target looks highly challenging in light of the Ukraine war and U.S. monetary tightening.
NEW YORK – In early March, Premier Li Keqiang announced that China is targeting GDP growth of “about 5.5 percent” this year. That would be ambitious even without Russia’s war against Ukraine and the attendant increases in global energy and food prices. Back in January, for example, the International Monetary Fund forecast that the Chinese economy would grow by only 4.8 percent in 2022. And in 2019, the last full year before the COVID-19 pandemic, GDP increased by just under 6 percent.
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
What is so hard about making chips in America? And can the U.S. do anything about it? As part of his series, 'Remaking the Chain,' Luke Patey went searching for answers from America's past and from the last country to threaten its mantle as the world’s leading economy.
The political scientist and sinologist talks about the early days of the pandemic in Wuhan, and how the Chinese authorities’ lack of transparency led the virus to spread rapidly.
Navigate China's Business Landscape with Confidence.