China Plans $75 Billion Infrastructure Fund to Support Economy, IMF 2022 Forecast 4.3% & China Goal at 5.5%
8th July 2022 | Hong Kong
China is planning to setup a $75 billion infrastructure fund (Q3 2022) to support China economy (IMF China Forecast: 4.3%, China 2022 Goal: 5.5%) that had slowed down due to continued COVID-19 outbreak & lockdown measures and resulting in broad decline in economic activity (consumer spending, real estate activity etc). In June 2022, at the China State Council meeting, China Premier Li Keqiang announced $120 billion of bank loans to support infrastructure spending, an economic stimulus package to support China’s economy. The $120 billion spending stimulus will be funded via China’s state-owned banks: Bank of China, China Construction Bank, ICBC and Agricultural Bank of China.
“ China Plans $75 Billion Infrastructure Fund to Support Economy, IMF 2022 Forecast 4.3% & China Goal at 5.5% “
China 2022 Economy
In March 2022: China has set GDP growth in 2022 at 5.5%, announced by Premier Li Keqiang at the opening meeting of the 5th session of the 13th National People’s Congress in Beijing on 5th March 2022 (Saturday). Other key targets for China in 2022 include creating 11 million new urban jobs, keeping urban unemployment rate at below 5.5%, inflation rate at 3%, and improvements in environment to reduce discharge of major pollutants. In 2022, the key tasks for the Chinese government will be to achieve stable macroeconomic performance, keep major economic indicators within range, maintain stability market entities operations, and maintain job security through strengthening of macro-policies.