China hits GDP target, but growth tipped to slow

News Snapshot:

Tokyo | China started to shrug off a property crisis and dwindling exports to hit government economic growth forecasts of a 5.2 per cent increase in GDP last year, after retail sales and industrial production picked up later in the year. China said GDP also rose 5.2 per cent in the fourth quarter compared to 4.9 per cent increase in the previous quarter as the rate of the country’s slow post-pandemic recovery showed signs of improvement. Experts say China still needs more aggressive stimulus this year to boost the economy. Bloomberg This was marginally below economists’ consensus forecasts for a...