China revises 2022 GDP growth

China's statistics authority on December 29 revised the country's gross domestic product (GDP) growth for 2022 to 3 per cent in its final verification.

The figure remained flat from the preliminary calculation, the National Bureau of Statistics said, Xinhua reports.

According to the revision, the data showed that China's GDP reached 120.4724 trillion yuan (about 17.01 trillion U.S. dollars) in 2022, down 548.3 billion yuan from the preliminary calculation.

China's annual GDP goes through two stages of accounting: preliminary calculation and final verification. The final verification is conducted based on the annual statistical data, final fiscal accounts, and departmental administrative records.