Retail sales and industrial output lower than forecast, with fears that China could miss its annual growth target for first time since 2015
after fresh outbreaks of the more transmissible Omicron variant were found.
Chinese policymakers are trying balance shoring up a fragile recovery and eradicating emerging Covid clusters, with the economy expected to miss its official growth target this year – set at about 5.5% – for the first time since 2015. Wang Jun, economist at Zhongyuan Bank, believe authorities will focus on implementing existing policies, rather than roll out aggressive new stimulus.
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