China's Coal Production to Hit Highest Level in 2023

China's coal production is expected to reach a record high by 2023 due to increasing demand and a focus on energy security. Data released by the National Bureau of Statistics showed that China produced 4.66 billion metric tons of coal in 2021, a 2.9% increase from the previous year. In December alone, production reached 414.31 million tons, up 1.9% from the previous year. Despite a slight decrease in average daily production in December, analysts predict a slight increase in coal production by 2024. However, the pace of growth has slowed over the past year due to safety-related mining shutdowns, leading to a situation where demand growth outstrips supply growth. As a result, China's coal imports have reached a record high.

https://internasional.kontan.co.id/news/produksi-batu-bara-tiongkok-tembus-level-tertinggi-di-tahun-2023

China's Economy to Grow 5.2% in Q4-2023

China's economy grew by 5.2% in the fourth quarter of 2023, slightly below analyst expectations but still meeting the annual growth target. The country has struggled to recover from the impact of the Covid-19 pandemic due to a prolonged property crisis, weak consumer and business confidence, rising local government debt, and slowing global growth. Analysts had predicted a 5.3% expansion in the fourth quarter, compared to a growth rate of 4.9% in the third quarter. For the full year of 2023, China's economy grew by 5.2%, boosted in part by the low-base effect from the previous year's Covid-19 lockdowns. The quarterly GDP growth was 1.0% in the fourth quarter, in line with expectations. China has set a similar economic growth target of around 5% for this year, according to policy experts.

https://internasional.kontan.co.id/news/ekonomi-china-tumbuh-52-pada-kuartal-iv-2023