China’s economy is recovering faster than top officials had expected with its Covid outbreak on reopening passing rapidly, according to a person familiar with the matter, suggesting the government will be restrained in rolling out new stimulus measures this year.
The infection wave that followed the abrupt removal of pandemic restrictions ended faster than senior leaders had expected, the person said, declining to be identified discussing government matters. The outbreak was expected to last at least through to February or March of this year, but most of the population was already infected by the end of January, the person said, allowing parts of the economy to recover quickly.
