As China enters the final quarter of 2022, the zero-COVID policy continues to exact a heavy toll on the economy. Despite growing economic costs, the leadership shows no signs of changing course ahead of the 20th Party Congress.
COVID Policy Impact
Rolling lockdowns and restrictions continue to disrupt economic activity. Consumer spending remains subdued, and business confidence is weak as companies face unpredictable disruptions.
Economic Indicators
- GDP growth tracking well below the 5.5% target
- Retail sales persistently weak
- Property sector in deep downturn
- Export growth slowing as global demand weakens