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ANKARA
Chinese economy grew 3% year-on-year in 2022, better than the market forecast but missed the official target of around 5.5%, the country’s statistical office revealed on Tuesday.
China’s gross domestic product topped 121 trillion yuan ($17.9 trillion) last year, according to the National Bureau of Statistics.
In 2021, China’s growth had improved by 8.4% from 2.2% in 2020.
In the fourth quarter of 2022, the world’s second-largest economy grew 2.9% year-on-year, slowed from a 3.9% rise in the third quarter.
The fourth quarter figure beat the market estimate of a 1.8% growth.
On a quarter-on-quarter basis, the Chinese economy stagnated in October-December, data showed.
