News Snapshot:
A number of Chinese provinces have lowered gross domestic product (GDP) growth targets for 2022, as well as expectations for consumption and trade, in the latest sign that Beijing may resort to its old playbook of state-led investment to maintain economic stability. After the National Bureau of Statistics on Monday revealed China's GDP grew 8.1 per cent in 2021, and warned about growing economic headwinds, five provinces - Zhejiang, Anhui, Chongqing, Sichuan and Hunan - lowered their growth targets for the year. China's economy faces a host of challenges, including sporadic coronavirus outbreaks that continue to weigh on consumption, a...
