With rising external headwinds and domestic challenges, economic growth is projected to slow to 5.0 percent in 2022. By 2022, 10.8 percent of the population in China are expected to fall below the $5.50/day per person poverty line (2011 PPP). The near-term outlook is highly uncertain with risks tilted to the downside amid frequent COVID outbreaks, an ongoing housing market correction, and the war in Ukraine.
