China’s GDP growth stabilised at the end of 2021 but Omicron causes a major risk in the near-term. Policy easing continued with a rate cut on Monday. An official growth target may or may not be published in March. China’s economic outlook in a nutshell: • GDP increased by 1.6% q/q (4.0% y/y) in the last quarter of 2021 and the growth outlook stabilised but at a lower level than before. Both COVID-19 and challenges in the real estate sector will continue to dampen growth. • The policy stance has been eased and the PBoC announced another rate cut on Monday. • We expect China’s GDP to grow by around 5% in 2022. It ... (full story)