For China, totally abandoning its “zero-Covid” policy since 7 December 2022 should represent a turning point for the country’s economic development. In 2022, economic activity remained strongly correlated to the restrictions imposed by the authorities, especially during the strict lockdowns in spring: GDP fell in Q2 (-2.4%) then rebounded in Q3 (+3.9%). In Q4, it was once again at a standstill (+0.0%) due to new health restrictions put in place at the start of the quarter then the resurgence of the epidemic in December, both of which hampered industrial production (–0.3% in Q4). Thus at the end of 2022, GDP was 2.9% above its level at the end of 2021, and over the whole of 2022, it improved by 3.0%...