News & Feeds December 18, 2022

China’s economic output to exceed 120trn yuan in 2022

China’s economic output is likely to exceed 120 trillion yuan ($17.2 trillion) this year, state media quoted a senior Chinese Communist Party official as saying on Saturday. COVID-induced disruptions, weaker demand at home and abroad, and a property downturn have brought headwinds to the world’s second-largest economy this year. “There is a gap between economic growth and the expected target set at the start of the year, but many other indicators were better accomplished,” Han Wenxiu, deputy head of the party’s office for financial and economic affairs, was quoted by state broadcaster CCTV as saying.