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Top bank adviser expects China’s growth lower than target

An adviser to the monetary policy committee of the People's Bank of China expects the country’s economy to see a strong rebound in H2. Wang, however, said that China's economic growth will be 4.7% this year, falling short of the country's 5.5% target. Wang said that China could consider trying to boost the economy by introducing special national bonds that don't count as financial deficits. President Xi Jinping earlier reaffirmed that the gross domestic product (GDP) target will be met despite concerns from economists that Beijing's stringent Covid policies would sink the economy. The government sold CNY1tr of bonds in 2020 to pay for measures to fight the pandemic but didn't sell any last year or include them in the bond plan for this year.


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