China's GDP grows 5.2% in 2023, exceeding government target
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China's economy saw a growth of 5.2% in 2023, surpassing the government's target of around 5% yearly growth. This increase can be linked to the low GDP of 3% in 2022, which was a result of the COVID-19 pandemic and nationwide lockdowns. Official data showed that the economy also experienced a 5.2% growth during the October-December quarter compared to the same time last year. On a quarterly basis, the economy rose 1% in Q4.