Asian Development Bank cuts China's growth forecast to 4% in the year 2022

In its Asian Development Outlook, ADB said China’s continued adherence to a zero-covid strategy in response to renewed outbreaks early in 2022 has



triggered the reimposition of strict lockdowns. Amid a slowdown in China, ADB cut Asia's growth forecast to 4.6 percent as the prolonged war in Ukraine has pushed commodity prices higher and triggered monetary tightening by many central banks to control inflation. 

By 2023, ADB lowered its economic growth projection for developing Asia and the Pacific region to 5.2 percent from 5.3 percent, while raising the inflation forecast to 3.5 percent from 3.1 percent.