Description

While there appears to be a large degree of market consensus on China’s GDP growth in 2022, there is less clarity on the three to five-year outlook. A raft of issues could slow growth momentum in 2022. They range from a high base effect from 2021, slowing export growth, further regulatory reform and the country’s ‘zero-Covid’ policy to carbon emissions control and a cooling property market. There is also a lack of ‘animal spirits’ to spur private investment due to policy uncertainty.