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Chinese President Xi says 2023 was year of resilience for economy
Chinese president Xi Jinping has called 2023 a successful year for the Chinese economy saying that it's grown more 'resilient and dynamic' - despite financial figures signalling a stalled post-Covid recovery. Xi also said he expects a bullish year for the economy. Meanwhile, China's manufacturing activity has shrank for a third straight month in December - weakening more than expected. The manufacturing purchasing managers index stood at 49 in December - below the 50 mark seperating expansion from contraction. Analysts say China's economy is facing challenges of weak consumer and business confidence after removing 3 years of Covid-19 restrictions in December 2022.
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