The Chinese economy had one of its worst performances in decades last year as harsh Covid-19 control measures hammered households and businesses. A prolonged lockdown has primarily disrupted the supply chain, adversely affected international businesses, and hurt trade and investment flow between China and other countries.
According to the National Bureau of Statistics, China’s gross domestic product (GDP) grew 3% in 2022, the second-slowest growth rate since 1976, and missed the government’s target of 5.5%.
