China gains on US as economy surges back into growth mode

Chinese GDP climbed 6.5% in the final quarter from a year earlier, pushing growth to 2.3% for the full year

The Chinese economy is now set to overtake the US by 2028.

China’s economy roared back to pre-pandemic growth rates in the fourth quarter as its industrial engines fired up to meet surging demand for exports, pushing the full-year expansion beyond estimates and propelling its global advance.

GDP climbed 6.5% in the final quarter from a year earlier, pushing growth to 2.3% for the full year. That leaves the world’s second-largest economy driving global growth and potentially passing US GDP sooner than previously expected.