Insight
China economic focus November 2022: removing the two obstacles to growth
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Covid restrictions and a recession in the property sector are the two biggest obstacles to China achieving GDP growth above 5% next year. However, we have seen some changes in government policy to address these two issues. China is preparing to move away from its zero-Covid policy, announcing a new Covid protocol in November. But the current outbreak will still slow economic growth in Q4. In the property market, releasing a robust stimulus package could support a soft landing. Getting stalled projects going again is a priority. But recovery in sales and new starts will happen later in 2023.
Table of contents
- Highlights
- Government economists paint a pessimistic outlook for 2023
- Easing restrictions signal China’s exit from its zero-covid policy
- Strong stimulus to stabilise the property market
- Appendix
Tables and charts
This report includes 13 images and tables including:
- New Covid cases since November
- Highway mobility has slumped since October
- Month-on-month change in house prices in major cities
- The property market remains subdued
- Wood Mackenzie’s proprietary China data
- Manufacturing PMI
- IP and retail sales
- Trade
- Inflation
- Property
- Investment
- Money supply (M2)
- Required reserve ratio
What's included
This report contains:
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