(Beijing Comprehensive News) China's 2023 consumers' price index (CPI) rose 0.2%, the lowest in 14 years, causing the market to worry about China's falling into a shrinkage spiral, and the export of an important engine of China's economic growth also appeared seven.The first decline in the year has highlighted the severe challenges that the Chinese economy faces weak internal and external needs.
The data released by the National Bureau of Statistics of China on Friday (January 12) shows that throughout the year in 2023, the CPI rose 0.2%year -on -year, lower than the 3%target set by the bureau.In December last year, the CPI in December decreased by 0.3%year -on -year, which was narrowed from last month.
/>
China Customs General Administration also announced the annual import and export data.In 2023, China exported to US dollars, a year -on -year decrease of 4.6%, and 11.6 percentage points from 2022, the lowest since 2017.Due to the depreciation of the renminbi, if it was calculated in RMB, it exported 2.377 trillion yuan (S $ 4.53 trillion) last year, an increase of 0.6%; imports were 1.799 trillion yuan, a decrease of 0.3%.However, the export of the month in December continued the growth momentum of November, an increase of 2.3%year -on -year, higher than market expectations.
The spokesman and director of the Statistical Analysis Department of the General Administration of Customs of China said that the weakness of the world economic recovery and the downturn of global trade have formed a direct impact on China's exports, and the export growth rate has slowed compared to the previous years.
CPI and inflation data have deepened the market's concerns about the recovery of China's economic recovery.Bloomberg quoted Yang Yuting, the chief economist of the Greater China of Australia and New Bank, saying that China needs to act boldly to avoid being caught in a shrinking spiral.Like other economists, he is expected to boost domestic demand and confidence through interest rate cuts.
