China Achieves 2023 Growth Target Amidst Late-Year Slowdown

Official figures released in January indicated that China successfully achieved its 5% economic growth target for the entirety of 2023.

However, Beijing also reported a notable deceleration in economic expansion during the final three months of the year. Economic growth decreased to 4.5% during this period. This slowdown was primarily attributed to weak domestic spending and a persistent property crisis within the country.