China will likely set its GDP growth target at 5.0-5.5 percent for 2022 as fixed asset investment (FAI) will play a key role in its steady macroeconomic development, Lian Ping, chief economist at China-based Zhixin Fund, has stated.
In particular, overall FAI in China is foreseen to rise by 6.5 percent in 2022, with FAI in infrastructure, manufacturing industry and the real estate industry expected to increase by eight percent, eight percent and 4.5 percent year on year, respectively.
The target for 2022 is lower GDP growth than the expectations of around eight percent for 2021, but GDP growth will still be at a relatively high level.
Global economic growth is estimated to reach 5.9 percent in 2021 amid effective control of the Covid-19 pandemic, more widespread vaccinations, and the low base in 2020. In 2022, global economic growth will likely be 4.5 percent, indicating a decline compared to 2021, while still at a relatively high level.