2023 China’ official GDP figure is growth 5.2% yoy, as reported today.
The caveat is that the growth is in RMB terms. However, due to RMB devaluation, GDP in USD terms is flat for 2 years.
2021 GDP in RMB: 114,923.7 bn
2023 GDP in RMB: 126,058.2 bn
2021 average FX: 1 USD = 6.4529 RMB
2023 average FX: 1 USD = 7.0742 RMB
2023 vs 2021 GDP in RMB terms grew by 9.7%, or 4.7% annually;
while RMB vs USD dropped by 9.6%, or 4.7% annually.
So GDP in USD terms is flattish for 2 years.