China’s economy boosts by 6.3% in Q2 of 2023

The world’s number two economy reported on Sunday that GDP for the second quarter grew 6.3 percent, from a year ago because of a low base and lower than economists expected that stood at 7.3 percent.

On a quarterly basis, China’s gross domestic product grew just 0.8 percent in the second quarter, slowing down from 2.2 percent levels, according to data from the National Bureau of Statistics (NBS).

NBS spokesman noted that China faces a complex international geopolitical and economic environment and it could still meet its full-year growth target, with Beijing setting a target of about 5 percent growth for 2023 in March.