China’s gross domestic product grew 5.3 per cent in the first quarter against a year earlier, exceeding market expectations as Beijing tries to steer a manufacturing-led revival of the world’s second-largest economy.
The strong first-quarter growth rate, which compares with analyst forecasts of 4.6 per cent in a Reuters poll and an expansion of 5.2 per cent for the full year in 2023, follows mixed economic data in recent weeks.
“Generally speaking, the national economy got off to a good start in the first quarter . . . laying a good foundation for . . . the whole year,” the National Bureau of Statistics said.
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