China revises upward 2021 GDP growth rate by 0.3 point to 8.4%

China on Tuesday revised upward its inflation-adjusted economic growth rate for 2021 by 0.3 percentage point to 8.4 percent following data revisions.

The pace of expansion in industries such as manufacturing, transportation and the hotel and restaurant sector was faster than initially estimated, according to China’s National Bureau of Statistics.

In 2021, China posted solid growth with consumer and corporate confidence recovering and exports recuperating from the initial shock of the coronavirus pandemic.

However, the world’s second-largest economy’s growth slowed significantly recently, affec...