China’s economy grew 5.2% in the final three months of 2023, missing analysts’ estimates of 5.3% but still meeting its annual gross domestic product growth target.
Data from the National Bureau of Statistics on Wednesday (17 January) showed GDP in the world's second largest economy expanded 5.2% in 2023, compared to an official target of around 5%, the lowest benchmark in decades. The fourth-quarter GDP showed a 1% increase compared to the third quarter, while the quarter-on-quarter growth rate was lower than the revised 1.5% recorded in the third quarter. What happened to China in 2023? In 2022, China's economy saw modest 3% growth due to prolonged Covid-19 restrictions tied to its zero-covid policy. After lifting these measures at the end o...
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