This time I would like tentatively to share the insights and analysis of The Trustee Chair Team of the Center for Strategic and International Studies (CSIS), with the title of “China’s Two Sessions: Ready, Aim, Spend” posted on March 9.
The big news out of China’s annual legislative session is Premier Li Keqiang’s announcement that the 2022 economic growth target would be “around 5.5%.”
The majority of media coverage has highlighted that this is the lowest target in several decades.
We have a different take on the significance of this goal and its implications for other policy priorities.
We are impressed by how high the target is: 5.5% is at the top end of all projections for Chinese growth for this year that we have found.
Most prominent is the International Monetary Fund (IMF), which lowered their estimate from 5.6% (October 2021) to 4.8% (late January 2022).
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