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17 Jan 2024

International Economy

China’s economy reached its growth target, expanding by 5.2 percent in 2023 amid pressure from the property sector and geopolitical tensions (Business Brief No.4030)

  • ​The Chinese economy grew by 5.2 percent YoY in 2023, higher than its government’s target of 5.0 percent, driven by stimulus measures and the low base of 2022. The growth was seen amid the downside risk of the real estate sector.
  • In 2024, KResearch projects that China’s economic growth will slow to 4.5 percent YoY due to the ongoing downturn in the property sector and mounting deflationary risks.

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International Economy