China's economy expands 3% in 2022, among weakest growth in decades

GDP growth below official target of 5.5% as COVID, feeble global economy weigh

Office towers in Shanghai's Lujiazui financial district. China's financial capital suffered a two-month virus lockdown last year that hammered the economy. © Reuters

CK TAN, Nikkei staff writer

January 17, 2023 11:00 JST

Updated on January 17, 2023 12:50 JST

SHANGHAI -- China's gross domestic product expanded 3% in 2022, marking one of its weakest annual performances in decades as Beijing's zero-COVID policy and faltering overseas demand battered the world's second-biggest economy.