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CHINA’s economy grew more than expected in the first quarter, according to data released, reports Reuters.
First quarter gross domestic product (GDP) grew 5.3 per cent from the year earlier in January-March, data released by the National Bureau of Statistics showed.
This reading was comfortably above a Reuters poll predicted rise of 4.6 per cent and slightly faster than the 5.2 per cent expansion in the previous three months.
The growth offered some relief to officials amid prolonged economic challenges in the property sector and increasing local government debt.
The government has unveiled a number of fiscal and monetary policy measures in a bid to achieve what analysts have described as an ambitious 2024 GDP growth target of around five per cent, noting that last year’s growth rate of 5.2 per cent was likely flattered by a rebound from Covid.
# china# grew# more# than# expected# in# the# first# quarter
