China’s Economy Expands at 5.3% in 2023, Caixin Survey Shows

What’s new: Economists surveyed by Caixin estimated an average 5.3% growth in China’s gross domestic product in 2023 as the world’s second-largest economy gradually returns to its feet after the Covid pandemic.

Caixin’s survey of 16 domestic and foreign institutions showed that estimates of China’s 2023 growth range between 5.1% to 5.4% year-on-year, with an average rate of 5.3%. The economy expanded by 3% in 2022, as the country struggled with repeated lockdowns.