China Experiencing, Economic Rebound , Amid Consumption Boost.
Associated Press reports that China's economic
growth has accelerated over the last quarter
after an abrupt end to pandemic controls.
As consumers return to shops and restaurants,
China saw its gross domestic product
grow 4.5% from January to March.
According to government data released on
April 18, China's GDP from last quarter
outpaced the previous quarter's 2.9% growth.
AP reports that authorities anticipate
China will face import and export
pressures in the months to come.
The forecast comes amid widespread
concerns over an uncertain international
economic environment.
Fu Linghui, director general of China’s National
Bureau of Statistics, said that China will look to
implement various policies to "stabilize growth.".
Fu Linghui, director general of China’s National
Bureau of Statistics, said that China will look to
implement various policies to "stabilize growth.".
According to Linghui, China will look to
stimulate demand domestically, while also
looking to support emerging industries.
According to Linghui, China will look to
stimulate demand domestically, while also
looking to support emerging industries.
The rise in GDP comes amid an economic rebound,
as people emerged from strict "zero-COVID"
restrictions that were lifted at the end of 2022.
In March, consumer goods saw a
10.6% increase in total retail sales.
The combination of a steady uptick in
consumer confidence as well as the still-
incomplete release of pent-up demand
suggest to us that the consumer-led
recovery still has room to run, Louise Loo, Economist at Oxford Economics, via Associated Press