China’s economy grew 8% in 2021 but property, virus threats loom: AFP poll
Issued on: 15/01/2022 – 03:40
Beijing (AFP) – China’s economy expanded at its fastest pace for 10 years in 2021, according to an AFP poll of analysts, but its strong recovery from the Covid-19 pandemic is threatened by Omicron and a property sector slowdown.
The eight percent growth would be well above the government’s target of more than six percent, and comes on the back of a strong start to the year as a “zero-Covid” policy allowed the country to lead the global economic recovery.
China’s exports surged nearly 30 percent last year on solid global demand as countries reopened from pandemic lockdowns, boosting its stuttering economy.
But the country’s recovery in the second half of 2021 was hobbled by a series of outbreaks — with officials reimposing strict containment measures — as well as power outages caused by an emissions-reduction drive,…