China Likely To Grow About 4.5% In 2022-Daily

The Chinese economy is expected to gradually return to its potential growth level of about 5% and 5.5% in Q3 and Q4, respectively, which may bring the annual growth to 4.1% to 4.5%, the Securities Daily reported citing Wang Qing, chief macro analyst of Golden Credit Rating. Boosting consumption should be a key to drive growth in H2, including the promotion of car and home appliance sales, as well as the issuance of consumer coupons and subsidies to the low-income groups, Wang was cited as saying. Retail sales may rebound to around 4.5% y/y by year-end from the 0.7% decline in H1, the newspaper said citing Wang.