China’s 2023 GDP data suggests more stimulus needed to prop up economy

CHINA’S 2023 gross domestic product (GDP) growth of 5.2 per cent exceeded the government’s official target of 5 per cent, but economists said that the data also indicates a need for more fiscal and monetary support.

The latest figure is an improvement from the 3 per cent recorded for 2022, when China was still dealing with the spread of Covid-19.

The better showing has to be seen against the backdrop of a low base, however, as well as various policy interventions.