china q4 gdp China GDP fall 

China Q4 GDP Slows on COVID Woes, But Beats Expectations

The Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product (GPD) grew at an annualized rate of 2.9% in the three months to December 31, data from the National Bureau of Statistics showed. The reading was higher than expectations for growth of 1.8%, and down from the third quarter’s reading of 3.9%. GDP was flat in the…

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China’s Dec Home Prices fall, More Supportive Policies Likely

China’s new home prices fell again in December as COVID-19 outbreaks hurt demand, with Beijing expected to roll out more measures to help sustain the recovery after the dismantling of pandemic curbs last month brightened the outlook. New home prices dropped both in monthly and annual terms, with continued weak demand a constraint to a steady recovery. Analysts say the property sector is showing signs of recovery, but it remains uneven and more supportive policies are needed to revive sentiment in the battered market. The sector will remain sluggish in…

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Asian Stocks Up Despite Massive Shrink in Chinese Economy

By Administrator_India Capital Sands Asian stock markets managed to hold onto earlier gains on Friday as China’s economy reported its first contraction since 1992. China reported earlier in the day that its gross domestic product in the first quarter shrank by 6.8% year-on-year.   Chinese industrial production fell 1.1% year-on-year in March, less than the predicted 7.3%, as the country slowly increased its production capacity after months of lockdown to stem the spread of the COVID-19 virus. But the road ahead does not look easy for the Chinese economy as other countries extend their lockdowns, curtailing demand. The first-quarter contraction is not a surprise, considering the…

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