China 2022 Economic Growth Hit By Coronavirus Restrictions
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Description
China's economy grew last year at the second slowest rate in almost half a century - a sign of how the country's strict coronavirus regulations have affected businesses. Official figures...
show moreOfficial figures show the gross domestic product of the world's second-largest economy rose by 3% in 2022.
The policy had a major impact on the country's economic activity last year but the sudden relaxation of the rules has led to a jump in Covid cases that threatens to also drag on growth in the early part of this year.
Jacqueline Rong, deputy China economist from the BNP Paribas bank says the data came in stronger than our expectation. Nevertheless, it reveals the hard hit to the Chinese economy from a zero-Covid policy and a property rout in 2022.
Experts have voiced caution over China's economic numbers - with some warning that the trajectory of the data rather than the figures themselves are a useful guide to how the country's economy is performing
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Author | Africa Business Radio |
Organization | Africa Business Radio |
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