1/17, 3:01 AM (Source: TeleTrader)
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China's GDP rises 2.9% in Q4

The gross domestic product (GDP) of China rose by 2.9% year-on-year in the fourth quarter of 2022, according to a preliminary report released by the country's National Bureau of Statistics (NBS) on Tuesday.

The data showed goods and services produced by Beijing surprised investors' expectations with the value-added of the primary industry landing at 8.8 billion yuan, increasing 4.1% on an annual basis, while the secondary industry rose by 3.8% to reach 48.3 billion yuan, as the tertiary industry went up by 2.3% to 63.8 billion yuan.

The GDP remained the same compared to the figure seen in the third quarter of the year, while the entire year GDP saw a 3% increase to stand at 121.0 billion yuan. In the same report, it was said that the population of China shrank last year for the first time since the early 1960s.

Baha Breaking News (BBN) / NL