China sets lowest economic growth target in decades as challenges mount
CNN
China has set its lowest official target for economic growth in three decades.
Speaking during one of China's most important political gatherings of the year, Premier Li Keqiang said that China would target GDP growth of about 5.5% this year. The world's second biggest economy grew 8.1% in 2021, but the pace of expansion slowed sharply in the final months of the year.
Chinese policymakers face mounting challenges to keep growth steady, as the country contends with a real estate crisis and Beijing's zero-tolerance approach to the coronavirus. The fallout from the Ukraine crisis could also slow growth by driving commodity prices higher.
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