On a quarter-by-quarter basis, China’s GDP grew 1.6% in the first quarter, compared to analysts’ expectations of around expectations of 1.4%.
Beijing’s growth target for 2024 is around 5%.
China’s growth was driven in part by external demand, as export volume grew by 14% year on year.
Industrial output for March grew 4.5% year on year, missing expectations of 6%.
Retail sales grew 3.1% year on year, lower than expectations of 4.6%.