China has set its economic growth target for 2022 at "around 5.5%," down from "over 6%" last year. Small and midsize enterprises that have supported the economy are facing tougher circumstances than previously thought. Despite the tax refunds and tax cuts implemented by the government, the slowdown continues.
The Nikkei View
China must change course to escape policy-induced recession
Slowdown in world's No. 2 economy will impact the world
Chinese President Xi Jinping, left, and Premier Li Keqiang arrive for the second plenary session of the National People's Congress at the Great Hall of the People in Beijing on March 8. © Reuters
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