“China’s top leaders told government officials last week that this year’s economic growth target of ‘around 5.5%’ should serve as a guideline and not a fixed target to be achieved“Bloomberg reports citing people familiar with the matter.
Additional comments
“The leaders held meetings with ministerial and provincial level officials last week, during which they were told that the target will not be used to assess their performance and that there will be no penalties for not reaching it.”
“The leaders also recognized that the chances of meeting the goal were slim“.
This comes as policymakers begin to recognize that the country’s GDP growth in 2022 is unlikely to be achieved.
Source: Fx Street

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