China's GDP rises 2.9% in Q4 - Breaking The News

China's GDP rises 2.9% in Q4

17 January

1 min read

EPA-EFE/ALEX PLAVEVSKI

The gross domestic product (GDP) of China rose by 2.9% year-on-year in the fourth quarter of 2022, according to a preliminary report released by the country's National Bureau of Statistics (NBS) on Tuesday.

The data showed goods and services produced by Beijing surprised investors' expectations with the value-added of the primary industry landing at 8.8 billion yuan, increasing 4.1% on an annual basis, while the secondary industry rose by 3.8% to reach 48.3 billion yuan, as the tertiary industry went up by 2.3% to 63.8 billion yuan.

The GDP remained the same compared to the figure seen in the third quarter of the year, while the entire year GDP saw a 3% increase to stand at 121.0 billion yuan. In the same report, it was said that the population of China shrank last year for the first time since the early 1960s.

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