China may miss its annual economic growth target due to Covid restrictions weigh on the country’s economy. The ruling Communist Party’s top policy making body, the Politburo, announced on Thursday that it aims to keep economic growth in a reasonable range, however, did not mention the official growth target of 5.5% that had previously been set.
China has been pursuing a zero-Covid policy that has caused major cities to remain in full or partial lockdowns. In the statement by the Politburo, the governing body called on stronger provinces to meet their growth targets as they strive for the best outcomes in the country overall. In the statement, the country’s GDP was not mentioned.