The world’s second largest economy surpassed analyst estimates in terms of gross domestic product growth. The Chinese economy increased its output by 8.1 percent last year, according to China’s National Bureau of Statistics.
In the last quarter of last year, the Chinese economy grew by about four percent quarter on quarter, while analysts’ prevailing estimates were 0.4 percentage points lower. Year-on-year growth in gross domestic product of 8.1 percent is the best result of the Chinese economy since 2011.
The massive economic recovery after 2020, when the country (and the world) was plagued by a coronavirus epidemic, is mainly due to strong exports. However, according to experts, risks remain, which could lead to a sharp slowdown in economic growth in 2022. Already in the last quarter of 2021, it was the weakest of all quarters in the last year and a half, said China’s National Bureau of Statistics.
Other risks for the Chinese economy lie in the cooling real estate sector or the re-disruption of supply chains. In China, there are relatively strong outbreaks of new coronavirus infections in some places, to which the authorities are responding with strict measures.