China's economy grew by about 5.2% in 2023, Premier Li says

China’s economy grew by around 5.2% in 2023, exceeding the official target set by Beijing. The announcement was made by Premier Li Qiang at the World Economic Forum’s annual meeting in Davos, Switzerland. Li stated that China’s economy showed signs of improvement and rebound in the past year. The government had aimed for a growth rate of about 5%. The official 2023 growth figures for the world’s second-largest economy are set to be released soon. Despite facing challenges such as a real estate crisis, high youth unemployment, deflation, and an aging population, Li expressed confidence in the long-term positive trend of China’s economy.