Overview

• China's economy grew 5.2% in 2023, exceeding the government's modest growth target of about 5%, however, the country is still suffering from persistent deflation, a crisis in its real estate market, high youth unemployment and a long-term population decline.
• China's exports decreased by 4.6% in 2023, marking the first year-on-year decline since 2016.
• Major stock indices tracking Chinese firms plummeted, with the Hang Seng China Enterprises Index shedding nearly 4%.
• Investment in real estate development declined by 9.6% year-on-year, and the total monetary value of commercial real estate transactions fell by 6.5%.
• China's population fell by 2.09 million people last year to 1.41 billion, marking a continued trend of depopulation.