Chinese economy fully recovered from COVID, shows impressive growth
The Chinese economy has experienced a 4.5 percent growth compared to the previous year, indicating recovery from the COVID lockdowns. Although this growth is significant, there are doubts about the accuracy of these numbers. The Chinese government aims for a growth rate of 2 percent quarter on quarter, but the recovery is slow, and the statistical office acknowledges that it lacks a solid basis due to the complex international situation and domestic demand shortfall. To boost economic growth, the Chinese central bank has recently tightened monetary policy, and the government plans to implement further measures. While it is challenging to estimate Chinese numbers, several indicators, such as strong export figures, better-than-expected retail sales and investment figures, support the growth rate. However, industrial production and the real estate sector are facing challenges. With a growth of 4.5 percent compared to last year, the Chinese economy is back and China seems to have left the consequences of the COVID lockdowns behind. That is of course a substantial growth. There are always doubts about these numbers, however. A growth of 4.5 percent year on year and a growth of 2 percent quarter on quarter. That is actually the growth rate they are striving [...]
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