China’s economic growth rate last year fell well below target.
According to data released by the National Bureau of Statistics of China today (17th), China’s gross domestic product (GDP) in 2022 will increase by 3.0% year-on-year to 121.207 trillion yuan (about $17 trillion), well below the official target of 5.5%. It is.
GDP in the fourth quarter of last year also grew only 2.9% year-on-year, slowing down from 3.9% in the third quarter.
This is the worst performance since 1976, the last year of the 10-year Cultural Revolution that ruined the Chinese economy, except for the growth rate of only 2.2% due to the spread of the new coronavirus epidemic in 2020, Archyde.com analyzed.
Meanwhile, the National Bureau of Statistics of China announced on this day that the population of China in 2022 was 1.41 billion, down by about 850,000 from 1.41 billion at the end of 2021.
In addition, last year’s birth rate was 6.77 per 1,000 population, down from 7.52 in the previous year, the lowest ever.
‘Archyde.com’ news agency said China’s population decline was the first in 60 years, citing the one-child policy implemented between 1980 and 2015 as reasons for rapid education spending.
VOA News
*This article was sourced from Archyde.com.