HONG KONG -- A broad range of private sector analysts have downgraded their projections for China's economic growth this year in response to lockdowns imposed on Shanghai and other cities under the government's zero-COVID policy.
The new forecasts are well below the official estimate of a 5.5% expansion in gross domestic product. In April, the International Monetary Fund shaved 0.4 percentage point from its previous outlook to arrive at a 4.4% growth projection.
