China economic focus March 2022: is the 5.5% GDP growth target achievable?

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The Chinese government has set the country’s GDP growth target for 2022 at around 5.5%. The target surprised the market on the upside, and is also higher than our forecast of 5.2%. A series of supportive measures are listed in the Government Work Reports released after the March congress meeting. However, with a growing number of cities returning to lockdown, devaluation of the stock markets, sluggish property sales, as well as the expected slowdown in exports, achieving the growth target will become challenging.

Table of contents

  • Highlights
  • Easing dual control policy supports energy-intensive sectors
  • Economic shock from new Covid outbreaks
  • Other looming risks
  • Appendix

Tables and charts

This report includes 12 images and tables including:

  • Economic targets 2022 vs 2021
  • SPB issuance accelerated in January and February 2022
  • China experiences biggest Covid outbreak since the first wave
  • Wood Mackenzie’s proprietary China data
  • Manufacturing PMI
  • Trade
  • Property
  • Money supply (M2)
  • IP and retail sales
  • Inflation
  • Investment
  • Required reserve ratio

What's included

This report contains:

  • Document

    China economic focus March 2022: is the 5.5% GDP growth target achievable?

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