1 Biggest Engine of Global Economic Growth
This year has been a year for economic recovery after three years of COVID-19. Despite external pressure and internal difficulties, China’s economy is recovering well and has made solid progress in high-quality development in 2023.
In the first three quarters, China’s GDP recorded a year-on-year growth of 5.2 percent, surpassing 91.3 trillion yuan ($12.7 trillion). The nation is well-positioned to achieve this year’s growth target of around 5 percent.
The International Monetary Fund (IMF) revised up China’s GDP growth rate forecasts to 5.4 percent for 2023. The Organization for Economic Cooperation and Development (OECD) predicted China’s real GDP would grow by 5.2 percent in 2023.
China remains the
