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China: stronger growth expected in 2023

China: stronger growth expected in 2023

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China’s long-standing zero covid policy is almost over and the country’s economy is expected to recover to 4.9% growth this year.


According to the median forecast of about 50 economists interviewed by Reuters, China’s GDP is likely to grow by only 2.8% in 2022. A low figure, due to drastic health restrictions, which have changed the lifestyle and consumption patterns of the population and businesses.


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According to the Reuters survey, the expected growth rate in China in 2022 should therefore be much lower than the official target of 5.5%. Not counting the 2.2% growth rate in 2020, which followed the initial pandemic-related shock, 2022 is expected to mark the worst annual performance of China’s economy since 1976.


According to the Reuters survey, due to the tightening of covid 19-related measures, China’s GDP probably grew by only 1.8% in the fourth quarter of 2022, compared with 3.9% growth in the third quarter. Quarter-on-quarter, the country’s economy is expected to have contracted by 0.8% in the fourth quarter, compared with growth of 3.9% between July and September.



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