China’s GDP grew 8.1% in 2021 as the economy’s rapid recovery from the pandemic faded in the second half of the year amid power shortages and turmoil in the real estate sector, official data showed Monday.
The annual growth was partly due to a low comparison base in 2020, when the economy was disrupted by the Covid-19 pandemic and grew by a mere 2.3%.
For the fourth quarter of 2021, the year-on-year growth rate was 4%, data from the National Bureau of Statistics (NBS) showed. The increase was slower than 4.9% growth in the third quarter, 7.9% in the second quarter and 18.3% in the first quarter.
China’s full-year GDP came in at 114.4 trillion yuan ($18 trillion) last year, NBS data showed.
More to come …
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