China's economy grew 5.3% in first quarter, beating expectations
China's Q1 GDP: China's economy has struggled to bounce back from the COVID-19 pandemic, with a slowdown in demand and a property crisis weighing on its growth.
China Q1 GDP: China's economy in the first quarter beat expectations while receiving a boost from policies and an increase in demand, the government said Tuesday.
The world's second-largest economy expanded at a 5.3 per cent annual pace in January-March, beating analysts' forecasts of about 4.8 per cent, official data show. Compared to the previous quarter, growth was up 1.6 per cent.
China's economy has struggled to bounce back from the COVID-19 pandemic, with a slowdown in demand and a property crisis weighing on its growth.
The better-than-expected economy data came days after China reported a decline in import and export figures for March as well as a slowdown in inflation following months of deflationary pressures.
Industrial output for the first quarter was up 6.1 per cent compared to the same time last year, and retail sales grew at an annual pace of 4.7 per cent.
Policymakers have unveiled a raft of fiscal and monetary policy measures as Beijing seeks to boost the economy. China has set an ambitious gross domestic product (GDP) growth target of 5 per cent for 2024.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
08:41 AM IST