Publication:
China Economic Update - June 2022: Between Shocks and Stimulus - Real Estate Vulnerabilities and Financial Stability in China

Loading...
Thumbnail Image
Files in English
English PDF (2.76 MB)
632 downloads
English PDF (3.05 MB)
394 downloads
English Text (257.92 KB)
36 downloads
Date
2022-06
ISSN
Published
2022-06
Author(s)
Abstract
After a strong start in early 2022, the largest COVID-19 wave in two years and resulting mobility restrictions have disrupted China’s growth normalization. The global environment has also significantly worsened following Russia’s invasion of Ukraine. Real gross domestic product (GDP) growth is projected to slow sharply to 4.3 percent in 2022. In the face of domestic and external headwinds, China's policymakers should carefully calibrate its policies. In the short term, China should balance COVID-19 mitigation with supporting economic growth. Over the medium term, greater efforts are needed to shift away from the old playbook of stimulus-led investment to boost economic growth. Decisive action to encourage a shift toward consumption, tackle social inequality, and rekindle innovation and productivity growth would help achieve a more balanced, inclusive, and sustainable growth trajectory for China.
Link to Data Set
Citation
World Bank. 2022. China Economic Update - June 2022: Between Shocks and Stimulus - Real Estate Vulnerabilities and Financial Stability in China. © Washington, DC. http://hdl.handle.net/10986/37530 License: CC BY 3.0 IGO.
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue
Associated URLs
Associated content
Citations