China had been known to be severe in its policies, and that had made the country go up a lot, and they are seeing steady economic growth all throughout the years that we have come across.
Last year was no different as we see a growth of 8.1 % in the Chinese economy. This is true quite a commendable growth of the economy even if it seems to be not a huge case.
Anyhow, we are just not going to leave you hanging but just telling you the ideal Number of the total ones. You can see the breakdown of the growth that we have here.
For the full year, China economists are not so happy, though, because they had expected an average of 8.4% growth in 2021. So that is falling behind.
Industrial production had also gone up by 4.3 % in December. Maybe the only point of disappointment had been the retail sales. They have missed expectations and grew by 1.7%. There had been a prediction of a 3.7% increase.
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“We must be aware that the external environment is more complicated and uncertain, and the domestic economy is under the triple pressure of demand contraction, supply shock, and weakening expectations,” the bureau said in a statement to the news.
Fixed asset investment has been going around for some time, and it has grown by 4.9%. They have topped the expectations that were taken from this portion of the economy to be up for a 4.8% growth.
The urban unemployment rate has been on average for the year of 5.1%. However, there is a variation here since the unemployment rate of the people who are between the ages 16 to 24 has gone on to remain far higher at 14.3%.
