China's economic growth has slowed since 2020, when the coronavirus pandemic and a government crackdown on the private sector and debt levels for property developers brought full-year growth to 2.2 percent, the weakest since 1976.
There was a break in 2021 with a growth rate of 8.4 percent. Some of this was due to a lower base in 2021, but exports have increased as the country has recovered from the initial outbreak of the Covid-19 outbreak while the rest of the country remains under lockdown.
In 2022, China's economy grew by only 3 percent as the Covid outbreak returns to the country, it highlights the heavy costs of the government's zero-Covid policy.
I the economy grew by 5.2 percent in 2023. Although it exceeded Beijing's target of 5 percent, it was the lowest target in decades and ensured that China's rapid growth period has stalled.