Chinese Economy grew by 8.1% in 2021

Tags: Economics/Business

According to the data released by the National Bureau of Statistics (NBS)  of China on 17 January 2022 the second largest economy in the world  grew 8.1% in 2021 and reached the $18 trillion mark.

•  Last year's growth rate was the fastest since 2011 and marked a strong recovery after growth dipped  to a 44-year-low of 2.2% in 2020.
• The NBS said 10.6 million babies were born last year, down from 12 million in 2020,  a growth rate of 0.034 %, lowest since the founding of the People’s Republic of China in 1949 .
• China's population grew to 1.41 billion by the end of last year, stoking fears of a looming demographic crisis and a consequent economic slowdown in the world's most populous nation.
• Experts have warned that a demographic turning point may be just around the corner in the world’s most populous nation, and some say it threatens to erode the foundation of China’s booming economic growth over the past 40 years.

 China is the second largest economy in the world after the United States.

China is the most populous country in the world,second in India and third is the U.S.