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China Reports Surprisingly Strong Growth Driven by Industry

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Gross Domestic Product,China,China

(Bloomberg) -- China’s economic growth beat expectations in the first quarter, as factory output led the expansion bolstering expectations the government can...

-- China’s economic growth beat expectations in the first quarter, as factory output led the expansion bolstering expectations the government can hit its ambitious annual target.Iran’s Attack on Israel Sparks Race to Avert a Full-Blown WarGross domestic product increased 5.3% in the January-to-March period from a year earlier, data released by the National Bureau of Statistics showed Tuesday. That’s higher than the median estimate of 4.

The People’s Bank of China may provide more support for cheap loans to housing funds in the coming months via its Pledged Supplemental Lending program, some analysts say. Strong sales abroad helped balance China’s domestic woes early in the year. But exports declined in March — and with more countries threatening to erect barriers against Chinese goods, there are risks in relying on foreign trade to meet growth targets.

 

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