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China’s GDP expanded 8.1% in 2021, but growth is slowing

That figure is roughly in line, if not slightly higher than, the expectations set by many economists. And it outstrips the Chinese government’s target last year for its economy to expand at least 6% for 2021.

But GDP expanded just 4% in the last quarter of the year compared to a year prior. While higher than the 3.6% growth forecast in a Reuters poll of analysts, it’s still the slowest pace in a year and a half.

Growth in the fourth quarter was bolstered by industrial production, which rose 4.3% in December from a year earlier — accelerating from November’s 3.
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8% growth.

But consumption dramatically weakened. Retail sales increased just 1.7% in December from a year earlier, sharply lower than November’s 3.9% uptick.

China is risking a big hit to the economy and supply chains with zero-Omicron approach

China has been contending with a slew of problems recently, including tumult in its property sector and a series of Covid-19 outbreaks.

Troubled Chinese real estate…

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