URGENT: China’s GDP grows 3.0% in 2022, stifled by “zero-COVID” policy
Newsfrom JapanWorld Economy
China’s economy in 2022 expanded 3.0 percent from a year earlier, with growth battered by the nation’s stringent “zero-COVID” policy involving lockdowns that was followed by an explosion of infections after an abrupt departure from it later in the year, government data showed Tuesday.
China’s gross domestic product growth decelerated significantly from 8.4 percent in 2021, slowing to 2.9 percent in the October-December period of 2022 from 3.9 percent in the previous three-month period.
The draconian antivirus steps had restricted people’s movements and disrupted supply chains.