China has finally been forced to admit that the country will miss its growth target this year which has been affected by the Covid-19 restrictions.
Although aware that the preventive measures implemented have 'hurt' the economy, but China still wants to continue the implementation of its zero Covid policy.
The Politburo, the top policy-making body of the Chinese Communist Party, said in a statement that it would target economic growth in a 'reasonable range' in the second half of this year.
Previously, Beijing had set an official growth target of 5.5% in 2022, but in its latest statement the world economic giant stopped short of repeating it, signaling that China may not be able to meet its goal.
In a statement after its quarterly economic meeting, the 25-member Politburo, chaired by President Xi Jinping, said the leaders would strive to reach the best possible outcome.
However, at the same time it also urged stronger regions to strive to meet their annual growth targets.
Uncertainty in the wake of the Covid-19 outbreak continues to plague China where the latest city of Wuhan has once again been put under lockdown measures after 4 cases were recorded earlier this week.
