BEIJING—The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt loosening of strict COVID-19 containment measures and persistent property sector weakness.
The Washington-based lender, in a report released on Tuesday, said it expected China’s economy to grow 2.7 percent in 2022, before recovering to 4.3 percent in 2023 as it reopens following the worst of the pandemic.
