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Chinese Provinces Lower Growth Targets from Last Year: Caixin

CHINA PRESS
MNI (Singapore)

Most provinces in China set their annual economic growth targets lower than their actual growth rate in 2021 amid increased downward pressure, Caixin reported. Economically developed provinces in China such as Guangdong, Jiangsu, Shandong, Shanghai and Beijing mostly set the 2022 growth target between 5% and 5.5%, which are references for understanding the national GDP target, the newspaper said citing Guo Lei, chief economist of GF Securities. The city of Beijing sets a 2022 target of “more than 5%”, the lowest among 30 provinces that have released targets, the newspaper said.

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