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China Growth Target in Tatters as Covid Zero Hammers Economy

  • Analysts see Beijing emphasizing Covid Zero and jobs goals
  • Beijing still values growth, meaning further stimulus likely
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China Turns Focus to Beijing as Covid Outbreak LingersSource: Bloomberg

China’s commitment to Covid Zero means it’s all but certain to miss its economic growth target by a large margin for the first time ever.

Economists’ median forecast for gross domestic product growth this year has dropped to 4.5%, according to the latest survey compiled by Bloomberg, well below the official target of about 5.5%.