What Does the Data Tell Us About China’s Future Economy?

A close examination of a government report on the country’s social and economic development in 2023 offers a glimpse of what problems will need to be solved going forward

The National Bureau of Statistics’ 2023 report on China’s economic and social development reveals much about the state of economy.

China’s GDP grew to 126 trillion yuan ($17.5 trillion), still the second-largest in the world. GDP growth moderated last year, illustrating that the structure of China’s economy is undergoing a transformation.

The contributions of new infrastructure and new energy increased substantially, and artificial intelligence (AI) and advanced manufacturing will become new growth points. Meanwhile, the real estate industry’s contribution to the economy continues to decline.