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Economy

China GDP seen up 4.1% in 2022 as zero-COVID bites: Nikkei survey

Shanghai lockdown hit growth, while fear of more restrictions dampens consumption

Staff working at a PCR testing site in Shanghai in May when the city was locked down.   © Reuters

HONG KONG -- Economists expect China's growth to slow to 4.1% in 2022, after the government's zero-COVID policy led to a prolonged lockdown in Shanghai that paralyzed the world's second-largest economy and hit global supply chains.

China's key financial hub imposed a two-month lockdown from the end of March as authorities tried to contain soaring COVID-19 cases. The lockdown triggered a sharp drop in China's economic growth over the April-June quarter. Despite an expected recovery in the second half of the year, economists believe the official target of around 5.5% will not be achievable in 2022.

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