Good Start to Chinese Economy Boosts Confidence in Global Economic Recovery

* Data from the National Bureau of Statistics showed Tuesday that China’s gross domestic product (GDP) grew 4.5 percent year on year in the first quarter, beating the consensus forecast and marking the highest growth in a year.

* The International Monetary Fund (IMF) last week projected a 5.2 percent growth for China in 2023, up from 3 percent last year. The World Bank, meanwhile, expects China’s GDP growth to rebound to 5.1 percent in 2023. Both are in line with China’s official growth target of around 5 percent.

* With its vast economic volume and deep integration into the global economy, China’s stronger-than-expected rebound is widely expected to promote growth in the Asian region and beyond, boosting confidence in global economic recovery.

Beijing – Newly released data indicated that the Chinese economy is recovering with stronger-than-expected momentum, kicking off the year with a good start and…

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