China will push hard for the best possible outcome for the economy this year, state media said, after a meeting of the ruling Communist Party’s politburo, contrary to earlier calls to meet its economic growth target for the year.
In the second half of 2022, China should stabilize employment and prices, keep economic activities within a reasonable range and strive to achieve the best possible results,” the state-run Xinhua news agency said after the 25-member meeting. politburo, chaired by Xi Jinping, to assess the course of the economy.
China is widely seen by analysts as likely to miss its 2022 economic growth targets of 5.5% for the first time since 2015, with the 18 trillion economy. dollars expected to be hit by the extended coronavirus restrictions.
First-half GDP rose just 2.5% from a year earlier, pointing to huge pressure in the second half amid fears of a global recession, uncertainties from the war in Ukraine and concerns over repeated lockdowns.
Xi, at the opening of the Brics forum on June 22, said China would take more measures to meet annual economic targets by minimizing the impact of the coronavirus as much as possible.
But during a tour of the city of Wuhan on June 28, he said that China will try to reach a relatively good level of economic growth this year.”
Similarly, last week Premier Li Keqiang told the World Economic Forum that China would “try to achieve relatively good results in economic growth for the whole year”.
Source: Capital
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