China’s GDP expands by impressive 5.3% in Q1, well above market expectations
China’s GDP expands by impressive 5.3% in Q1, well above market expectations
China’s GDP grew by 5.3 percent in the first quarter of 2024, well above market expectations as the world’s second largest economy has gotten off to a robust start and laid a solid foundation for the economy to achieve the pre-set goal of growing by around 5 percent for the whole year.
The growth rate, underpinned by solid growth in export and robust growth in high-tech industrial output, means China’s economy remains the healthiest among major economies, and continue to play a leading role to drive global economic recovery.
The data, significantly higher than the average forecast of 4.6 percent by economists polled by Reuters, reflected the resilience of the Chinese economy and the attractiveness of its vast consumer market and manufacturing goods, which also offers a strong rebuttal of some Western media’s narrative of Chinese economy reaching its peak.
HK celebrates first National Security Education Day after legislation of Article 23
China’s Central government official Xia Baolong kicked off a high-profile opening ceremony of an event in Hong Kong Special Administration Region (HKSAR) marking the 10th anniversary of a holistic approach to national security on Monday when the city celebrated the first National Security Education Day after legislation of Article 23.
Xia, head of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, highlighted Hong Kong as the best destination in the world for business, making money and realizing dreams with the national security guarantee firmly in place.
Global traders remain upbeat about Canton Fair, shares China’s opening-up dividends
Purchasers were seen carrying luggage, exchanging name cards when passing by each other, and rushing through the exhibition halls of the Canton Fair on Monday morning, the first day of the 135th session of China’s landmark trade fair, which will run until May 5.
On the first day of the 135th session of the China Import and Export Fair, commonly known as the Canton Fair, over 60,000 global purchasers visited the physical exhibition halls.
By Sunday, more than 149,000 purchasers from 215 countries and regions had registered to visit the 135th session of Canton Fair, up 17.4 percent from the 134th session held in October and November 2023.
With an exhibition area of 1.55 million square meters, the fair accommodates 28,600 enterprises attending the export exhibition and 680 firms attending the import exhibition.