China’s GDP rose only 2.5 points in the first half of 2022

According to the National Bureau of Statistics, during the first half of 2022, the performance of the main indicators of the economy was also negative, with a noticeable decline of 0.7 percent in retail sales of consumer goods.

Meanwhile, investment in fixed assets rose only 6.1 points and business activity closed the January-June phase with a year-on-year increase of 9.4%, accounting for $2.94 trillion in operations.

The unemployment rate was 5.7 percent during the first half of the year, and 6.54 million new jobs were created in urban areas.

The statistics underscore the challenges of the Chinese economy and darkening prospects on the way to the 2022 exclusion target with GDP above 5.5 points, one of the lowest levels in the last decade but in line with the country’s recovery and its plans to secure the economy. More.

China has always been aware of the challenges, and in fact set its growth forecast at 2.1% in the second quarter, due to factors such as lower demand, disruptions in supply chains, the scourge of the epidemic and the conflict between Russia and Ukraine.

The bureau stressed that “economic growth was not easy to achieve,” referring to the downward pressure reported mainly in April, amid the shutdowns of Shanghai and Jilin.

However, the authorities are confident of a gradual recovery due to the resumption of production in these and other important economic centers, along with government support policies.

Fu Lingwei, a spokesman for the bureau, on Friday endorsed the country’s resilience and potential to close the year with a GDP boom between five and six points, provided it ensures a rebound in investment, manufacturing activity and innovation-based development.

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