China's economy expanded 8.1% last year, far exceeding the government's own targets.
Hong Kong China's economy expanded 8.1% last year, far exceeding the government's own targets. But weakening growth in the closing months of 2021 suggests that trouble is still on the horizon as the country contends with a deepening real estate crisis, renewed Covid outbreaks and Beijing's strict no-tolerance approach to controlling the virus.
The 2021 growth figure is roughly in line with the expectations set by many economists. And it outstrips the Chinese government's target last year for its economy to expand at least 6%.But GDP expanded just 4% in the last quarter of the year compared to a year prior, according to government figures released Monday, the slowest pace in a year and a half.
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