+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Xi orders senior officials to make sure China's GDP outpaces US despite COVID-19 lockdowns, WSJ reports

Apr 26, 2022, 21:19 IST
Business Insider
Chinese President Xi Jinping sits down during a visit to Renmin University of China in Beijing, capital of China, April 25, 2022.Ju Peng/Xinhua via Getty Images
  • Chinese President Xi Jinping want's his country's GDP to outpace the US, despite lockdowns, the Wall Street Journal reports.
  • To do so, he has ordered officials to make sure his country's economy is growing, the WSJ reported.
Advertisement

Chinese President Xi Jinping ordered his senior officials to ensure that China's GDP outpaces that of the US despite an onslaught of COVID-19 lockdowns, people familiar with the discussions told the Wall Street Journal.

Sources told the Wall Street Journal that Xi told China's financial and economic officials to make sure his country's economy is growing so that China looks better than a Western alternative.

In response, Chinese government agencies are eyeing future construction projects in sectors like technology, food, energy, and manufacturing, the Wall Street Journal reported.

Last year, US economic growth outpaced that of China — US growth stood at 10.1%, with China at 8.1%.

"For the first time in 20 years, our economy grew faster than China's," President Joe Biden said in January.

Advertisement

But a renewed COVID-19 crisis in China has spurred fears of economic troubles, unemployment, and supply chain issues.

Cities and regions across China — including the financial hub of Shanghai — have been sent into lockdown in recent weeks following a surge in COVID-19 cases.

The lockdowns have led to public outrage as authorities continue to try and stamp out virus clusters with travel restrictions and mass testing.

Next Article