Economic Buzz: China GDP Grows 8.1% In 2021

17 Jan 2022 , 10:40 AM

Chinas economy grew 8.1 percent for full year 2021 from a year earlier, exceeding the governments target of above 6 percent and following a revised 2.2% growth in 2020, according to official data from Chinas National Bureau of Statistics released on Monday. The economy expanded 4.0 percent year-on-year in the fourth quarter of 2021, easing from a 4.9 percent growth in the previous period. It was the slowest pace of expansion since the second quarter last year, amid several headwinds including a property downturn and COVID-19 outbreaks. On seasonally adjusted basis, the economy expanded 1.6 percent on quarter in the three months to December 2021, following an upwardly revised 0.7 percent advance in the previous quarter. This was the fastest quarterly growth since the fourth quarter of 2020, supported by a rebound in activity ahead of the Beijing Winter Games as well as the Lunar New Year and despite strict COVID-19 curbs in some regions and uncertainty from the property sector.

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