Monday, June 2, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

China’s Economy Grew 5% in 2023

Simon Osuji by Simon Osuji
January 17, 2024
in Business
0
China’s Economy Grew 5% in 2023
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Continuing what was an undoubtedly positive year for the BRICS alliance, China’s economy has grown by 5% in 2023. Indeed, Bloomberg reports that Chinese Premiere Li Qiang announced that the economic growth was officially estimated at 5.2%. Additionally, that figure exceeds the initial projections at the start of the year.

The economic expansion was part of a host of growth drivers in different areas for the economic alliance. Moreover, its economic increase is set to be a crucial part of the BRICS alliance’s growth trajectory in the coming years. Subsequently, Li Qiang noted that increased development of China’s business environment was set to be a focus for 2024.

BRICS China Xi Jinping
Source: chinaobservers.eu

Also Read: BRICS: China Buys a Staggering 225 Tonnes of Gold Worth $13.2 Billion

China Sees Economy Grow 5% in 2023, as It Exceeds Projections

Throughout last year, the BRICS economic alliance saw its most impressive year to date. The bloc enacted its first expansion effort in its history. Subsequently, it saw its de-dollarization initiatives take quite large steps forward. However, it appears as though individual countries within the bloc saw an impressive year as well.

Specifically, BRICS Member China has seen its economy grow by 5% in 2023, according to Chinese Premiere Li Qiang. Moreover, he stated that the overall long-term growth projections for the country have remained. Subsequently, he identified some key areas that the country is seeking to continue growing in 2024.

putin xi modi russia india china brics
Source: Flickr

Also Read: BRICS: What Countries Could be Included in Next Expansion?

“The overall long-term growth trend will not change. It will provide a continuous strong impetus for economic development around the world,” Li Qiang stated. Additionally, he pointed to areas like green transitions and urbanization as drivers for overall economic prosperity.

For the BRICS bloc, China’s economic health is of the utmost importance. The country has continued to be the largest economy in the bloc by far. Moreover, its standing globally is the largest asset to help the bloc compete for its multipolar goals.

Conversely, the BRICS expansion should allow more avenues for China’s continued economic flourishment through unilateral trade dealings. Especially ones that are likely to be settled in the country’s yuan. Which will hopefully help to strengthen the currency overall, on an international level.

Source link

Related posts

Western Sahara conflict builds up as Morocco gains support from the UK

Western Sahara conflict builds up as Morocco gains support from the UK

June 2, 2025
South Africa’s push to amend BEE laws for Musk’s Starlink triggers public backlash

South Africa’s push to amend BEE laws for Musk’s Starlink triggers public backlash

June 1, 2025
Previous Post

Crop Health Sensor Runs on Solar, Microbe Power

Next Post

Glacier looks to double headcount as new investment drives growth

Next Post
Glacier looks to double headcount as new investment drives growth

Glacier looks to double headcount as new investment drives growth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Hotspot taps Clear Blue consortium for solar-powered mobile sites

Hotspot taps Clear Blue consortium for solar-powered mobile sites

3 months ago
Israel Army Chief Tells Troops to Be Ready for Possible Lebanon Entry

Israel Army Chief Tells Troops to Be Ready for Possible Lebanon Entry

8 months ago
Orbit Fab unveils $30K port to refuel satellites

Orbit Fab unveils $30K port to refuel satellites

1 year ago
South Africa getting 30 000 more police officers to bolster fight against crime

South Africa getting 30 000 more police officers to bolster fight against crime

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.