China has relied on infrastructure to boost growth on the past, and analysts said the approach can be effective near-term, but adds to long-term problems.
Since March, mainland China has faced its worst outbreak of Covid-19 since the initial shock of the pandemic in early 2020.several investment banks have cut their full-year growth forecasts
Retail sales fell by 3.5% from a year ago in March — more than the 1.6% decline forecast by a Reuters poll. Xi's call for more infrastructure investment comes as local stocks have plunged on worries about growth in the world's second-largest economy. Among nine financial firms tracked by CNBC, the median GDP forecast is 4.5%, a full percentage point below China's official GDP target of around 5.5% announced in early March.
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