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China’s economic recovery is off to a slow start



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Wuhan’s GDP grew by 4% in 2022, better than the country overall. Pictured here on Jan. 20, 2023, is the city’s skyline along the Yangtze River.Hector Retamal | Afp | Getty ImagesBEIJING — China’s economic recovery is off to a modest start.Migrant workers have mostly returned to work after China’s biggest holiday of the year, and children went back to school this week.But preliminary data indicate overall growth isn’t roaring back on all cylinders yet, despite mainland China ending its Covid controls in early December.For example, official loan data for January showed year-on-year growth in loans to businesses, but a sharp drop in that to households.”The mixed data send a clear message that markets should not be too bullish about growth this year,” Nomura’s chief China Economist Ting Lu said in a report Monday.”This pattern has rich implications for diffe …

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