BEIJING, Jan 17 (Reuters) – China’s economy rebounded in 2021 from its pandemic-induced slump helped by robust exports but the pace slowed further in the fourth quarter off the back of weak consumption and a property downturn, pointing to the need for more policy support.
Growth in the October-December quarter hit a one-and-a-half-year low, government data showed shortly after the central bank moved to prop up the economy with a cut to a key lending rate for the first time since early 2020.
The world’s second-largest economy is struggling with a rapidly cooling property sector, as well as sporadic small-scale COVID-19 outbreaks that could deal a blow to its factories and supply chains.
