In a year marked by global uncertainties, the Chinese mainland's economy has demonstrated remarkable resilience in the first quarter. Market optimism has been on the rise, with consumer sectors bustling and signaling a clear trajectory of economic recovery.
Latest data from the National Bureau of Statistics reveals a 5.3 percent year-on-year increase in Gross Domestic Product (GDP) for the first quarter, a significant rise of 0.8 percentage points compared to the same period last year. This growth lays a strong foundation for meeting annual economic targets.
Industrial production has also seen steady advancement, with the value-added of industrial enterprises above designated size growing by 6.1 percent year-on-year, up by 1.5 percentage points from the previous year. High-tech industries are flourishing, backed by rapid investment growth and the nurturing of new quality productive forces. Sectors such as equipment manufacturing and high-tech manufacturing have reported rebounding profits, further boosting development momentum.
Despite facing escalating trade protectionism, intensifying geopolitical conflicts, and persistently weak external demand, the mainland's total goods trade reached 10.17 trillion yuan ($1.4 trillion) in the first quarter, marking a 5 percent year-on-year growth. This achievement not only surpasses the 10 trillion yuan milestone for the first time at this point in the year but also sets a new high in six consecutive quarters, highlighting the robust vitality of the export-oriented economy.
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Q1 economic data highlights China's strong economic resilience
cgtn.com
