Expert insight

With 2022 growth target, China will send a message

February 24, 2022

Greater predictability about regulation gains importance
Regulatory clarity and stringency affect the degree of stimulus needed
A line chart shows quarterly year-on-year percentage changes in China’s total social financing since March 2019. It increased to more than 13% amid policy easing during the COVID-19 pandemic and fell back to as low as 10% in post-pandemic tightening late in 2021. The chart also plots Vanguard forecasts for total social financing increases over the rest of this year of 10.3% in an unchanged regulatory environment, but only 9% in an environment of increased regulatory clarity and reduced regulatory stringency.
Growth target will help clarify China’s economic views
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