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CUSEF Express - March 7, 2022

2022-03-07
Daily highlights of developments that affect China and the U.S.
Daily highlights of developments that affect China and the U.S.

China targets 5.5% growth in 2022

  • During his address of the Report on the Work of the Government (En/Ch) on Saturday, Chinese Premier Li Keqiang emphasized economic stability and revealed China’s target of the 2022 GDP growth rate at “around 5.5%,” the lowest level in 30 years. The Chinese economy grew 8.1% in 2021 from a low baseline, showing a strong recovery from the Covid economic shock in 2020.

Russia turning to China as sanctions mount

Iran nuclear talks face new uncertainty

  • Russian Foreign Minister Sergei Lavrov said Russia would not back the Iran nuclear deal unless it gets a written guarantee that the “avalanche of aggressive sanctions” would not affect the trade and investment relations between Russia and Iran.

U.S. Ambassador Burns arrives in China

  • Robert Nicholas Burns, the new U.S. Ambassador to China, has arrived in China and started a three-week quarantine, the Ambassador tweeted on Saturday. The U.S. Senate approved Burns’ nomination on December 16 last year.

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