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China's economy expanded 5.2% last year, hitting target of 'about 5%'
Credit: IndiaTimes- Published on January 17, 2024
China's economy grew at a faster pace in Q4, achieving its 5% annual growth target for 2023. The performance was attributed to strategic measures, including strengthening macro regulation and expanding domestic demand. Key indicators such as industrial output and retail sales showed growth. However, challenges remain, including a...
Video credit: AFP English
Published on January 17, 2024 - 00:47
Chinese economy grows 5.2% as population decline accelerates
China's economy last year suffered one of its worst annual performances in more than three decades, as the country also reported a continued population decline in 2023, China's National Bureau of Statistics reveals.
Gross domestic product expanded 5.2 percent to hit 126 trillion yuan ($17.6 trillion) last year. The figure is better than the three percent recorded in 2022, when strict zero-Covid curbs destroyed activity, but marks the weakest performance since 1990, excluding the pandemic years.
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