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.
Jon Wysocki dead at 53: Staind drummer passes away
Chinese embassies, consulates to offer temporary visa discounts
Middle East nations to enhance tourism ties with China
Highlights of women's artistic gymnastics qualification at Tokyo 2020 Olympic Games
Artists paint giant mural to honor Kobe Bryant and Gianna in Manila
Zhangjiakou is ready for the 2022 Winter Olympics
Kids' tour to Harbin becomes online hit
College baseball notebook: Conference tournaments to decide NCAA automatic bids and many at
Artists paint giant mural to honor Kobe Bryant and Gianna in Manila
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
Xi Meets Mauritanian President