China is expected to meet its 2022 annual growth target of around 5.5 per cent with the help of government measures to control COVID-19 and stabilise market expectations, according to economists and experts, who recently said the country has plenty of policy tools to stabilise the overall economy, while the impact of outbreaks is likely to be temporary.
Citing China's faster-than-expected 4.8 per cent year-on-year (YoY) growth in the first quarter, they said there still exists a gap between first-quarter growth and the country's annual growth target, calling for more steps to accelerate macroeconomic policy support, especially for hard-hit enterprises and sectors, an official Chinese media outlet reported.
Compared with major economies, China reported higher GDP growth with lower inflation in the first quarter, demonstrating robust economic resilience despite downward pressures, said Wang Yiming, vice chairman of the China Centre for International Economic Exchanges.
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