Economists cut China's 2022 GDP outlook to 3.2%: Nikkei survey

Zero-COVID policies, weak exports and property market crisis dent growth

Economists surveyed by Nikkei are bearish on a quick turnaround in China's economy, with many citing property market weakness and COVID curbs. (Source photo by AP/Getty Images/Reuters)

TAKESHI KIHARA and FRANCES CHEUNG, Nikkei staff writers

October 7, 2022 15:00 JST

HONG KONG -- China's growth will slow to 3.2% this year as the economy reels from the impact of a property market crisis and President Xi Jinping's strict zero-COVID policies, economists and analysts say, ahead of a key Communist Party leadership meeting this month.

The world's No. 2 economy is set to expand between 2.2% and 4.1% in 2022, with the average forecast coming in at 3.2% among 31 respondents to a written survey conducted jointly by Nikkei and Nikkei Quick News in September.