Official: Economy has survived worst moment

China's economy has survived the most difficult phase and the country's optimized COVID-19 response measures will have a positive effect on the economic recovery, according to officials and experts.

They said that China will gradually shake off the impact of COVID-19 and post a notable economic rebound in 2023, given the further implementation of optimized measures and the more pro-growth focus of policymakers.

However, they warned of troubles in the real estate sector, as well as strong external headwinds being a drag on the economy, and underlined that improving expectations and boosting market confidence will hold the key to economic recovery next year.