China’s economy experienced sluggish growth in the second quarter, putting pressure on the government to introduce more policy support. Although the annual GDP figure appears strong, it is largely due to base effects from last year’s stringent COVID-19 lockdowns. The year-on-year GDP growth rate for Q2 stood at 6.3%, an improvement from the 4.5% recorded in the previous quarter, but it fell short of the forecasted 7.3% growth rate. However, analysts believe that China’s 5% growth target is still attainable.
China’s Second Quarter GDP Growth of 6.3% Calls for Increased Policy Support
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