Beijing: Amidst the challenges of the Covid-19 epidemic, China’s economy grew by 8.1 percent in 2021 to about 18,000 billion US dollars (US Dollars). China’s economy grew by four percent in the fourth quarter of last year, lower than the third quarter, according to official data released by the National Bureau of Statistics (NBS) on Monday.
The growth rate in the third quarter was 4.9 percent. The government had set a six percent growth target for 2021, although China achieved 8.1 percent growth during this period. China’s state-run news agency Xinhua said the increase was achieved amid a revival from the pandemic and a complicated foreign trade situation.
NBS said on Monday that China’s GDP grew 8.1 percent year-on-year to 1,14,370 billion yuan (about US$18,000 billion). NBS data shows the growth rate is much higher than the government target of six percent. In China, the average growth rate for the last two years was 5.1 percent.
