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    <title>Aaj TV English News - Business &amp; Economy</title>
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    <language>en-Us</language>
    <copyright>Copyright 2026</copyright>
    <pubDate>Mon, 06 Apr 2026 13:04:02 +0500</pubDate>
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      <title>China GDP jumps 4.5% in Q1 after zero-Covid scrapped</title>
      <link>https://english.aaj.tv/news/30318462/china-gdp-jumps-45-in-q1-after-zero-covid-scrapped</link>
      <description>&lt;p&gt;&lt;strong&gt;BEIJING: China’s economy grew 4.5 percent year-on-year in the first quarter, rebounding after the end of zero-Covid measures late last year, official data showed Tuesday.&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;The figures were the first snapshot since 2019 of a Chinese economy – the world’s second-largest – unencumbered by the strict health measures that helped keep the coronavirus in check but battered businesses and supply chains.&lt;/p&gt;
&lt;p&gt;Retail figures, the main indicator of household consumption, were up 10.6 percent on-year in March, the biggest bounce since June 2021.&lt;/p&gt;
&lt;p&gt;According to data published by the National Bureau of Statistics (NBS), industrial production in March climbed 3.9 percent on-year.&lt;/p&gt;
&lt;p&gt;Tuesday’s NBS report said in the first three months of the year China had faced a “grave and complex international environment as well as arduous tasks to advance reform, development and ensure stability at home”.&lt;/p&gt;
&lt;p&gt;Beijing’s virus containment policy – an unstinting regime of strict quarantines, mass testing and travel curbs – strongly constrained normal economic activity before it was abruptly ditched in December.&lt;/p&gt;
&lt;p&gt;The Chinese economy is also beset by a series of other crises, from a debt-laden property sector to flagging consumer confidence, global inflation, the threat of recession elsewhere, and geopolitical tensions with the United States.&lt;/p&gt;
&lt;p&gt;The official January-to-March growth figure was significantly higher than the 3.8 percent predicted by analysts in an AFP poll.&lt;/p&gt;
&lt;p&gt;China’s economy grew by just three percent in the whole of last year, one of its weakest performances in decades.&lt;/p&gt;
&lt;p&gt;It posted a 4.8 percent expansion in the first quarter of 2022, though that slowed to just 2.9 percent in the final three months of the year.&lt;/p&gt;
&lt;p&gt;The government has set a comparatively modest growth target of around five percent this year, a goal the country’s Premier Li Qiang has warned could be hard to achieve.&lt;/p&gt;
&lt;p&gt;An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year.&lt;/p&gt;
&lt;p&gt;That is roughly in line with the International Monetary Fund’s forecast of 5.2 percent.&lt;/p&gt;
&lt;p&gt;Still, experts have warned that wider global trends could yet weigh on China’s recovery.&lt;/p&gt;
&lt;p&gt;Teeuwe Mevissen, an analyst at RaboBank, said: “Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels.&lt;/p&gt;
&lt;p&gt;“Loss in household wealth due to the real estate crisis and loss of household income during the pandemic are factors why consumers have not spent more.”&lt;/p&gt;
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      <content:encoded xmlns="http://purl.org/rss/1.0/modules/content/"><![CDATA[<p><strong>BEIJING: China’s economy grew 4.5 percent year-on-year in the first quarter, rebounding after the end of zero-Covid measures late last year, official data showed Tuesday.</strong></p>
<p>The figures were the first snapshot since 2019 of a Chinese economy – the world’s second-largest – unencumbered by the strict health measures that helped keep the coronavirus in check but battered businesses and supply chains.</p>
<p>Retail figures, the main indicator of household consumption, were up 10.6 percent on-year in March, the biggest bounce since June 2021.</p>
<p>According to data published by the National Bureau of Statistics (NBS), industrial production in March climbed 3.9 percent on-year.</p>
<p>Tuesday’s NBS report said in the first three months of the year China had faced a “grave and complex international environment as well as arduous tasks to advance reform, development and ensure stability at home”.</p>
<p>Beijing’s virus containment policy – an unstinting regime of strict quarantines, mass testing and travel curbs – strongly constrained normal economic activity before it was abruptly ditched in December.</p>
<p>The Chinese economy is also beset by a series of other crises, from a debt-laden property sector to flagging consumer confidence, global inflation, the threat of recession elsewhere, and geopolitical tensions with the United States.</p>
<p>The official January-to-March growth figure was significantly higher than the 3.8 percent predicted by analysts in an AFP poll.</p>
<p>China’s economy grew by just three percent in the whole of last year, one of its weakest performances in decades.</p>
<p>It posted a 4.8 percent expansion in the first quarter of 2022, though that slowed to just 2.9 percent in the final three months of the year.</p>
<p>The government has set a comparatively modest growth target of around five percent this year, a goal the country’s Premier Li Qiang has warned could be hard to achieve.</p>
<p>An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year.</p>
<p>That is roughly in line with the International Monetary Fund’s forecast of 5.2 percent.</p>
<p>Still, experts have warned that wider global trends could yet weigh on China’s recovery.</p>
<p>Teeuwe Mevissen, an analyst at RaboBank, said: “Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels.</p>
<p>“Loss in household wealth due to the real estate crisis and loss of household income during the pandemic are factors why consumers have not spent more.”</p>
]]></content:encoded>
      <category>Business &amp; Economy</category>
      <guid>https://english.aaj.tv/news/30318462</guid>
      <pubDate>Tue, 18 Apr 2023 14:22:48 +0500</pubDate>
      <author>none@none.com (AFP)</author>
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        <media:title>This general view taken from a ferry shows the city’s skyline during evening hour in Hong Kong on December 19, 2022. AFP
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