BEIJING: China's economy grew at a faster than expected clip in the first quarter, official data showed on Tuesday , expanding 4.5 per cent year-on-year, as policymakers move to bolster growth following the end of strict COVID-19 curbs in December.from a year earlier, quickening from 2.9 per cent in the fourth quarter.
On a quarter-by-quarter basis, GDP grew 2.2 per cent in Januar to-March, data released by the National Bureau of Statistics showed, compared with expectations for a 2.2 per cent increase and a revised 0.6 per cent rise in the previous quarter. Recent data suggest the economy is rebounding after disruptions caused by the sudden lifting of COVID-19 curbs in December, led by consumption, services and infrastructure, but easing inflation and surging bank savings are raising questions over the strength of domestic demand.
The government has set a modest target for economic growth of around 5 per cent for this year, after badly missing the 2022 goal.
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