But Beijing’s unrelenting zero-Covid approach to outbreaks in multiple cities this year has clogged supply chains and locked down tens of millions of people
BEIJING – China’s economic growth accelerated in the first quarter of the year to 4.8 percent, official data showed Monday, but the government warned of “significant challenges” ahead while massive Covid-19 lockdowns started to bite.
The world’s second-biggest economy had lost steam in the latter half of last year with a property slump and regulatory crackdowns, pulling down growth.
But it exceeded expectations in the first three months of 2022, growing 4.8 percent on-year, the National Bureau of Statistics (NBS) said, with Lunar New Year spending and factory production…
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