The 2024 GDP forecast will hit the 5 percent target.

China’s economic growth has slowed since 2020, the weakest since 1976, when the coronavirus pandemic and a crackdown on the private sector and debt levels on property developers pushed full-year growth to 2.2 percent.

In the year There was some break in 2021 with 8.4 percent growth. Some of these It is the lowest base in 2021, but exports have also increased as the country recovers from the first wave of the COVID-19 pandemic while the rest of the world is in lockdown.

In 2022 China’s economy grew by only 3 percent The government’s zero-covid policy has shown heavy costs as the covid epidemic returns to the country.

of Economy grew 5.2 percent. In the year Although it exceeded Beijing’s target of 5 percent by 2023, the target was the lowest in decades and marked a halt to China’s rapid growth.