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China posts 5.2% GDP growth amid slowdown concerns
Mint Mumbai
|January 18, 2024
China's gross domestic product (GDP) grew by 5.2% last year, higher than the government's target of 5% amid mounting market concerns, waning investor confidence and a protracted property market slump in the world's second-largest economy, according to official data released on Wednesday.
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The country's GDP touched a record 126.06 trillion yuan (about $17.71 trillion) in 2023, according data from China's National Bureau of Statistics (NBS).
Despite external pressure and internal difficulties, China has successfully achieved the major targets set for 2023 and recorded a rebound and improvements in the economy, Kang Yi, head of the NBS, told the media here.
This story is from the January 18, 2024 edition of Mint Mumbai.
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