China’s Economy Likely Grew Around 5.2% in 2023, Premier Says

(Davos, Switzerland) — China’s economy is expected to have grown 5.2% in 2023, Premier Li Qiang said Tuesday in a speech at the World Economic Forum in Davos, Switzerland, exceeding the government’s target of “around 5%” set in March.

Li’s estimate is broadly in line with the average 5.3% pace in a Caixin survey of economists and compares with the 3% expansion reported for 2022, which was the second-lowest growth rate in more than four decades as the “zero-Covid” strategy in place for most of that year curbed economic activity.