BEIJING : China's economy hit a bump in the fourth quarter, growing by 2.9 per cent year-on-year, National Bureau of Statistics data showed on Tuesday, beating expectations but still underlining the toll exacted by a stringent 'zero-COVID' policy.Gross domestic product (GDP) had been forecast to expand 1.
BEIJING : China's economy hit a bump in the fourth quarter, growing by 2.9 per cent year-on-year, National Bureau of Statistics data showed on Tuesday, beating expectations but still underlining the toll exacted by a stringent"zero-COVID" policy.
Growth for 2022 was at 3.0 per cent, the data showed, far below the official target of around 5.5 per cent. Excluding the 2.2 per cent expansion after COVID first hit in 2020, this is the worst showing in nearly half a century.
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