China's economy expanded 5.2% last year, hitting target of 'about 5%' even though recovery is uneven
China’s economy for the October-December quarter grew at a quicker rate, allowing the Chinese government to hit its target of about 5% annual growth for 2023 even though trade data and the economic recovery remain uneven
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Your support makes all the difference.China’s economy for the October-December quarter grew at a quicker rate, allowing the Chinese government to hit its target of about 5% annual growth for 2023 even though trade data and the economic recovery remain uneven.
Official data released Wednesday showed that the Chinese economy grew 5.2% for 2023, surpassing the target of ‘about 5%’ that the government had set.
The growth for 2023 is likely helped by 2022’s GDP of just 3% as China’s economy slowed due to COVID-19 and a nationwide lockdown.
For the fourth quarter, China’s gross domestic product also grew at 5.2%.
On a quarterly basis, the economy rose 1% in Q4, slowing from the expansion of 1.3% in Jul-Sep.