HONG KONG (AP) — 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% annual pace in January-March, beating analysts’ forecasts of about 4.8%, official data show. Compared to the previous quarter, growth was up 1.6%.
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% compared to the same time last year, and retail sales grew at an annual pace of 4.7%. Fixed investment for Q1 grew 4.5% compared to the same period a year ago.
Kate Hudson hits the stage to debut songs from her new album Glorious at star
China's top legislature concludes annual session
Spring outing tradition boosts business opportunities
The fightback begins: Boss of London's Queen Mary University tells pro
Full Text of Xi's Signed Article on Saudi Media
Spring outing tradition boosts business opportunities
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
School bullies will lose chances for better education
NBA playoffs: Edwards leads Wolves to 98
Full Text of Xi Jinping's Speech at Memorial Meeting for Comrade Jiang Zemin