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China records its best economic growth in 2021 for a decade

China has reported the best economic growth in a decade at 8.1% in 2021, faster than the 8% forecast. The growth was helped by robust exports. However, there are signs that momentum is slowing on weakening consumption and a property downturn, pointing to the need for more policy support. China, the world's second-largest economy, is struggling with a rapidly cooling property sector, as well as sporadic small-scale COVID-19 outbreaks that could deal a blow to its factories and supply chains. Ning Jizhe, head of the National Bureau of Statistics (NBS), said that at present the downward pressure on China's economy is still substantial, and the growth of residents’ employment and income continues to be restricted. Economists expect growth to slow in the coming months.

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