MNI BRIEF: China Says Growth Target On Track Despite Omicron

China’s National Bureau of Statistics said on Tuesday that economic growth targets for this year can be achieved after reporting data for the first two months that exceeded market expectations, while conceding challenges like the fast-spreading Omicron resurgence have added uncertainty.

"We do need to more fully assess the problems and difficulties," and realizing the 5.5% full-year growth target needs great efforts, spokesman Fu Linghui told reporters, see: MNI BRIEF: China's Investment, Consumption Jump In Jan-Feb.

Rising commodity prices due to geopolitical conflicts are pressuring small businesses downstream, but investments, consumption and industrial output showed positive changes, he said. Fu predicted that rising industrial production prices may ease as the country boosts supply, including increasing coal production.