GDP passes 121 trillion yuan, pointing to steady recovery

China remains the world's second-largest economy as the country's GDP surpassed 121 trillion yuan ($17.44 trillion) in 2022, pointing to a steady recovery trend despite economic shocks, the National Bureau of Statistics said on Tuesday.

While facing pressures and challenges from a gloomy global outlook, slowing external demand and a weak property sector, China will be able to buffer headwinds and post notable growth this year, making a good start for building a modern socialist country in all respects, officials and analysts said.

"We have the conditions, confidence and capabilities to ward off multiple risks and challenges," Sheng Laiyun, deputy head of the NBS, said in a statement.