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China's GDP grew by 5.3% in 1st quarter of 2024 amid continued crisis in property sector
The Daily Guardian
|April 17, 2024
China’s economy grew at 5.3 percent in the first quarter, making a stronger-than-expected start to the year even as the downturn of its property market continued while the domestic demand remained subdued.
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The GDP grew 5.3 percent year on year to 29.63 trillion yuan (about USD 4.17 trillion) in the first three months of 2024, data from the National Bureau of Statistics (NBS) showed on Tuesday.
The pace accelerated from 5.2 percent overall GDP growth for 2023, appearing on course to meet the target set by the government at around five percent.
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