Source: China Embassy
China posted record economic growth in thefirst quarter, signaling that recovering consumer spending may soon help theworld’s second-largest economy return to pre-COVID-19 growth conditions,officials and experts said on Friday.
The foundation of the recovery, however, isnot yet solid with lingering distress facing some businesses, thus the “nosharp turn” macroeconomic policy stance will remain intact, they said.
China’s GDP came in at 24.93 trillion yuan ($3.8trillion) in the first three months of the year, surging 18.3 percentyear-on-year, the highest quarterly growth since the National Bureau ofStatistics began keeping records in 1993, the NBS said on Friday.
“The Chinese economy has made a goodstart in the first quarter,” said Liu Aihua, an NBS spokeswoman, addingthat internal growth momentum got continuously stronger with expandedproduction and demand.
The NBS data showed that the country’sindustrial output rose by 24.5 percent year-on-year in the first quarter, whilegrowth in retail sales beat market expectations, coming in at 33.9 percent.
(Souce: China Daily)
