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Economics

PBOC Adviser Says China GDP Target ‘Difficult’ to Achieve

  • Covid challenges are major contributor to issue: Wang
  • Wang says country could consider special national bonds
Shoppers walk through a shopping mall in Beijing, on May 30.

Shoppers walk through a shopping mall in Beijing, on May 30.

Source: Bloomberg

Effects related to the Covid pandemic in recent months will make it challenging for China to meet its 5.5% annual growth target, a central bank adviser said, adding that pro-economy policies including special bond issuance could be on the way.

China’s economy could see a strong rebound in the second half, “but difficulties remain for the 5.5% target,” Wang Yiming, an adviser to the monetary policy committee of the People’s Bank of China, said at a live-streamed forum Saturday. The country could consider trying to boost the economy by introducing special national bonds that don’t count as financial deficits, said Wang, without giving details.