caused by Covid-19 outbreaks, semiconductor shortages and port shutdowns.
Despite the third-quarter slowdown, economists are generally confident that the Chinese economy will be able to make senior leaders’ annual GDP growth target of 6% or more, which was set in March. Fu Linghui, a spokesman for the statistics bureau, highlighted the economy’s ability to maintain its post-pandemic rebound in the first nine months of the year, even in the face of what he described as the country “carrying forward its structural adjustments,” a reference to the government’s campaigns to deal with debt and inequality.
Now that the statistical distortions from the pandemic are largely in the past, China’s growth rate is expected to return to around its pre-coronavirus trajectory. Before China began feeling the impact of the pandemic early last year, its economy expanded at a pace of 6.1% in 2019, the slowest such year-over-year growth rate since 1990.
Thanks to China Covid virus.
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