China Seen Setting Growth 5.5% in 2022: Journal

China is expected to set its annual GDP target around 5.5% during the upcoming National People’s Congress starting Saturday, as 29 out of 31 provinces set its growth target as around or above 5.5%, the China Securities Journal reported citing analysts. To realize the goal, China should advance infrastructure investment, promote the 102 major projects under the country’s 14th Five-Year Plan, and accelerate technology-based infrastructure, the newspaper said citing analysts. Monetary policy should focus on boosting overall demand by cutting RRR, lowering policy rates to reduce banks’ capital cost, and avoiding excessive appreciation of the yuan to ease export pressure, the newspaper said citing Wen Bin, chief researcher of China Minsheng Bank.