Chinese leaders say country likely to miss economic growth targets

Chinese leaders have all but acknowledged that the country will miss its annual growth target this year, while signaling that they will stay the course on zero-tolerance Covid prevention measures and take only cautious steps to support the housing market in difficulty.

China’s Politburo, the Communist Party’s top decision-making body, said in a statement Thursday after its quarterly economic meeting that it would aim to keep the economy within “a reasonable range” in the second half. He also urged the strongest provinces to strive to meet their annual growth targets – an implicit acknowledgment that others would miss their benchmarks.


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