According to Premier Li Qiang’s statement on Tuesday at the World Economic Forum in Davos, Switzerland, China’s GDP is predicted to rise by 5.2% in 2023, beating the government’s objective of roughly 5% established in March. This is more than the 3% growth rate for 2022 that was announced, which was the second-lowest growth rate in more than 40 years because of the “zero-Covid” strategy that was implemented.
On Wednesday, the National Bureau of Statistics is scheduled to reveal GDP figures for the entire year and the fourth quarter. The GDP of China expanded by 6.3% in the second quarter after growing by 4.5% in the first. In order to boost GDP in the second half of the year, policymakers announced initiatives to draw in foreign investment. The government issued an additional 1 trillion yuan ($137 billion) in sovereign bonds in October in order to boost investment and support the economy in 2024.
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