In the first quarter, the Chinese economy grew by 4.5%. While the growth rate was 3.9% in Q3 and 2.9% in Q4 2022, this is the largest increase in a year. This rebound in G.D.P. shows that the country has weathered the wave of Covid-19 cases following the relaxation of health rules in December.
Retail sales were up 5% in Q1 and contributed strongly to overall growth. In 2022, they declined by 2% and by 2.7% in Q4 2022 alone. After a dismal year, Beijing is on track to meet a target of 5% GDP grow
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