Premier Li Qiang announces the figure, and other economic measures, as he delivers his address to the National People’s Congress.
gross domestic product
The ability to grow even during the Covid-19 pandemic has pushed the Greater Bay Area up the world’s economic rankings.
Covid-19 restrictions hammer the economy across the board; GDP down 27% in first three quarters of 2022.
Covid-19 travel restrictions hit gaming industry with knock-on effect on city’s overall economy.
Latest figures show visitor numbers dropped 19.6% last month, 30.3% in annual terms, as city feels the pinch from Covid-19 and economic downturn.
Economy expected to accelerate to 23% in 2023, growth not expected to surpass pre-pandemic levels until 2025.
International ratings agency paints cautiously rosy future for city and its main industry, notes Macao’s finances are among strongest across Fitch-rated sovereigns.
Latest results point to an increasingly rosy future for Macao’s dynamic new neighbour.
Province’s foreign trade surpassed RMB 8 trillion yuan in 2021, placing it on par with some of the world’s major economies.
