China posts forecast-beating 5.3% growth in first quarter

Beijing (AFP) April 16, 2024

China's economy grew far more than expected in the first quarter of 2024, data showed Tuesday, even as it continues to be buffeted by a property-sector crisis and flagging consumer activity. For January-March, gross domestic product (GDP) reached 29.6 trillion yuan ($4 trillion) - an increase of 5.3 percent, compared with 5.2 in the previous quarter, the National Bureau of Statistics said.