China vice premier speaks at Davos forum

At the World Economic Forum, Chinese Vice Premier Liu He laid out an optimistic vision for the world’s second largest economy following the battering it took over nearly three years of strict COVID-19 containment measures.

Liu said China expects to see a major rise in its imports, more investment by companies and return to regular consumption habits over the coming months.His remarks come after China on Tuesday released the country’s economy grew by 3% in 2022, less than half of the previous year's 8.1% rate.Liu emphasized government efforts manage the earlier decline, particularly in supporting the real estate industry that accounts for 40% of all bank lending and 50% of local government revenue.