Tiếng Việt
China’s economy grows at least 4.4% in 2022
Despite the impact of Covid-19, China’s economy last year could grow by at least 4.4%, according to Mr. Xi Jinping.
In his New Year’s speech, Chinese President Xi Jinping said that the country’s gross domestic product (GDP) has exceeded more than 120,000 billion yuan (17,400 billion USD) in 2022. This means that last year’s GDP Growth is expected to be at least 4.4%.
In 2021, China’s GDP is 114,900 billion yuan, according to revised estimates from the country’s National Bureau of Statistics earlier this week. “China’s economy is still the second largest economy in the world and has healthy development,” Mr. Xi assessed.
The estimate is higher than international economists’ prevailing forecast of 2.8% to 3.2%, one of the lowest since 1976, according to CNN.
The Chinese government has set a growth target of 5.5% for 2022. However, the country’s economy last year was affected by repeated outbreaks, a decline in the real estate market, and weak domestic and international demand. Recently, China decided to adjust its anti-epidemic policy towards relaxation, even though the number of positive cases increased in winter.
According to a survey by Bloomberg, economists predict a faster and stronger recovery of the country’s economy by the end of 2023. Specifically, after a slow start that may take place in the first quarter, the period The end of the year will be the driving force to help growth for the whole year 2023 expected to reach 4.8%.
“China’s economy has great resilience, huge potential and enormous vitality. The fundamentals sustaining its long-term growth remain strong,” Xi said.
