Optimistic forecasts for the Chinese economy in 2023, after growth exceeded expectations

China’s newly released economic data showed strong economic resilience, indicating its impact on the vitality and dynamism of the international community, according to the Kathmandu Tribune.

Experts in the world believe that China is facing economic development prospects, in which it will continue its strong momentum in the global recovery.

International media reported that China’s economic growth in 2022 exceeded expectations, which made them believe that it would be the biggest driving force for global growth.

According to statistics released by China’s National Bureau of Statistics on January 17, the Chinese economy grew by 3 percent year on year to a record high of 121 trillion yuan (about 18 trillion dollars) in 2022, after successive achievements of 100 trillion yuan and 110 trillion yuan, respectively in 2020 and 2021, to be the fastest growing economy out of most major economies in the world.

The continuous rise in China’s total gross domestic product and the increase in per capita income indicate the country’s progress in comprehensive productive strength.

China is the world’s second largest consumer market and the largest online retail market.

International organizations and investment institutions say they are optimistic about China’s economic prospects, and have raised their forecasts for the country’s economic growth in 2023.

The Financial Times indicated that the return of pent-up consumer and investment activity in China will support global demand.

She stated that China is not only witnessing an increase in its economic size, but also an improvement in economic quality.

Since last year, the country has made economic stability a top priority and continues to make progress in this regard.

The added value of high-tech manufacturing firms increased by 7.4% in 2022, 3.8 percentage points higher than all firms.

Investment in the high-tech manufacturing and high-tech service sectors increased by 22.2 percent and 12.1 percent, respectively.

In particular, investment in the manufacture of electronic and communications equipment increased by about 30%.

The latest World Intellectual Property Indicators report indicates that China ranks first in the world in terms of the number of valid patents.

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