China's economy grew faster than expected in the first quarter, data on April 16 showed, offering some relief to officials as they try to shore up growth in the face of protracted weakness in the property sector and mounting local government debt.
However, a raft of March indicators released alongside the gross domestic product (GDP) data-including property investment, retail sales and industrial output showed that demand at home remains weak and is retarding overall momentum.
The government has unveiled fiscal and monetary policy measures in a bid to achieve what analysts have described as an ambitious 2024 GDP growth target of around 5 per cent, noting that last year's growth rate of 5.2 per cent was likely flattered by a rebound from a Covid-19-hit 2022.
GDP grew 5.3 per cent in January to March from the year earlier, data released by the National Bureau of Statistics showed, comfortably above analysts' expectations in a Reuters poll for a 4.6 per cent increase and slightly faster than the 5.2 per cent expansion in the previous three months.
"The result is positive for the economy to hit its target. Momentum appears to be stable for now, evidenced by the March data not surprising on the upside," said Mr Jeff Ng, head of Asia macro strategy at SMBC in Singapore.
"I think sentiments are still leaning towards bearish. I'm anticipating some reversal, possibly from the last quarter of 2024." On a quarter-by-quarter basis, GDP grew 1.6 per cent in the first quarter, above the forecast for growth of 1.4 per cent.
ãã®èšäºã¯ The Straits Times ã® April 17, 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ The Straits Times ã® April 17, 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã8,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
GAWILAN EYES PARIS PEAK
But before that, the Filipino is set to duel with Toh at OCBC Aquatic Centre
DOI WANTS TO BE SPL LEGEND ON RETURN
After toughâ stints, 2021 Player of the Year looks to make a bigger impact with Geylang
Intensity helps Paul to unlock Hurkacz
When things got a little topsy-turvy at the Italian Open quarter-finals on May 16, Tommy Paul told himself that he had to up the \"intensity\" to win.
DONCIC PLAYS SMILING ASSASSIN
Slovenian star finds his focus as Mavericks silence Thunder; Celtics see off Cavaliers
VJC TEAMS FLOOR RIVALS IN A DIVISION
Boys survive tense test in shoot-out win over RI as girls avenge loss to River Valley
SIA shares slip amid Investor concerns over rise In costs
Carrier says it is well-positioned despite headwinds as competition intensifies
Red Sea disruptions fragmenting global LNG trade into regions
LONDON It has been four months since a liquefied natural gas (LNG) tanker has passed through the narrow strait separating the Arabian Peninsula and Africa, testament to how violent attacks there have upended global energy trade.
Charles Keithâs co-founder named Businessman of the Year
Charles Wong lauded for role in turning shoe retailer into global fashion brand
Amazon workers say they struggle to afford food, rent
But firm describes study on US employeesâ economic well-being as deeply flawedâ
SUTD partners 12 institutions to enhance design education
Global alliance to explore student and faculty exchanges; it includes schools in Beijing, NY