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CHINA's economy grew by just three per cent in 2022, underscoring the heavy costs of the government's longstanding zero-Covid strategy before it was abruptly abandoned last month, reports London's Financial Times.
The country's gross domestic product figures missed Beijing's official growth target, which at 5.5 per cent was already the lowest in decades. Other than in 2020 at the beginning of the pandemic, when full-year GDP expanded 2.2 per cent, growth was the weakest since 1976.
Although China's economy is expected to recover in 2023 as the country reopens to the world, the data highlights the scale of the challenge leader Xi Jinping faces after three years in which far-reaching Covid controls took precedence over growth.
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