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China’s economy expanded at a slower rate of 4.7% in the last quarter, citing positive signs in factory output, income, and investment amidst global challenges. The growth was below expectations but reflects hard-won progress after the COVID-19 pandemic impact. The government aims for stable economic operation amidst weak consumer demand and reduced spending.
Recent reports show improved exports, factory output, retail sales, and income growth, pointing to a stabilizing economy. The Communist Party’s meeting is expected to address self-sufficient growth strategies amid trade and technology tensions. Investors look for measures to counter property market downturns and economic sluggishness.
Despite challenges, China remains focused on sustaining growth and supporting consumer demand. As companies adapt post-pandemic, efforts are made to boost spending and strengthen the economy.