The World Bank has revised its annual growth forecast for China down to 4.3 percent, from the 5.1 percent announced in December. Our Zheng Chunying spoke to the World Bank Senior Economist for China, Ibrahim Chowdhury, to discuss the challenges and opportunities facing the world's second-largest economy.

China's economic growth target for 2022 is 5.5 percent. That's higher than the World Bank's latest forecast of 4.3 percent.

World Bank senior economist, Ibrahim Chowdhury, says despite all challenges, China's economic growth will rebound in the second half of the year with the government's stimulus plans.

ZHENG CHUNYING Beijing "China has long been using supply-sided policies to stimulate its economy, but now numerous Chinese cities and provinces have in recent days taken measures to boost consumer demand with consumption vouchers, spending subsidies, and limited cash handouts. What's your take on that slight shift in policy making? How much is that going to have an impact in terms of the reality on the ground?"

ZHENG CHUNYING Beijing "Another report released by the American Chamber of Commerce has indicated that more than 70 percent of the assessed companies have reinvestment plans in China for 2022, and 58 percent consider their overall return on investment in China to be higher than in other places.What do you think make the Chinese market attractive to global investors despite of temporary fluctuation?"

Chowdhury noted that China's full year growth could be higher than currently projected if the pandemic is brought under control and domestic restrictions are fully lifted.

The World Bank also says structural reforms to encourage a shift towards consumption, address social inequality and rekindle innovation and productivity growth – including in technologies vital for China's dual carbon goals – would help achieve a more balanced, inclusive and sustainable growth trajectory for China. ZCY, CGTN, BJ.