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UBS cuts China 2022 growth to 3% as pandemic curbs hit market confidence

UBS expects China 2Q22 GDP to shrink by an annualised 8% QoQ due to the impact of pandemic-related restrictions on economic activities in April. The Swiss bank believes it likely that pandemic policies will undermine corporate and consumer confidence and hamper the release of pent-up demand. It has therefore cut its China 2022 GDP growth forecast from 4.2% to 3.0%….

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