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China Faces Bumpy Recovery as Economy Emerges from Covid Zero

  • GDP growth slowed to 3% in 2022, missing government’s target
  • Economists expect recovery this year after Covid wave passes
Bloomberg business news
China Growth of 3% in 2023 Is Quite Possible: Hong
Updated on

China’s economy proved more resilient than analysts forecast as a virus wave swept the nation, suggesting the worst of the slump may be over as a challenging recovery begins.

While gross domestic product growth of 3% last year was the second slowest pace since the 1970s, fourth quarter and December data came in better than economists had expected.