China’s Economy in FY21 Grow 8.1%

The data released by the National Bureau of Statistics of China showed an economic growth of 8.1% for FY21, which was predicted to be 8.4% by the Chinese economist. Economy for the fourth Quarter of FY21 grew 4% Y-O-Y.

Retail sales saw a drop, growing at 1.7% in December Y-O-Y. The drop in retail sales was offset by a steady growth in industrial production, which rose 4.3% in December Y-O-Y.Auto sales for the first time since April grew by 3.4% Y-O-Y in December.

Investment in fixed asset grew by 4.9% in FY21, while real estate investment rose by 4.4% and investment in infrastructure rose by 0.4%. Manufacturing investment grew 13.5% in FY21 Y-O-Y.


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