The Chinese economy expanded 4.8% yoy in Q1 of 2022, faster than a 4.0% growth in Q4. However, the risk of a sharp slowdown in the coming months heightened, amid widespread COVID-19 lockdowns, a prolonged downturn in the property sector and uncertainty from the war in Ukraine. For 2022, Beijing has targeted the economy to grow around 5.5%, slowing from a 8.1% expansion last year.
