January 17, 2023

China's GDP expanded 3 percent year-on-year to 121 trillion yuan ($18 trillion) in 2022, climbing above the 120-trillion-yuan mark for the first time as the world's second-largest economy navigated uncharted waters throughout the year and overcame headwinds - which ranged from the coronavirus and geopolitical tensions to interest rate hikes and waning overseas demand.

Despite a mild slowdown in the fourth quarter due to an uptick in the infection curve, China still outshone most other major economies including the US, Japan and Germany in 2022. The comparisons again highlighted China's dual role as both the locomotive and the stabilizer of the global economy last year, when its manufacturing capability helped the world tame inflation and stabilize supply chains.

Averaged over the past three years, GDP grew an impressive 4.57 percent - fresh evidence demonstrating China's sound long-term economic fundamentals, which observers said were not dented by the epidemic but instead were preserved and further strengthened thanks to the three-year dynamic zero-COVID response that maximized social economic gains with minimum costs.

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https://www.globaltimes.cn/page/202301/1283938.shtml