Chinese economy expands by 5.3% in Q1

ISTANBUL

The Chinese economy has expanded by 5.3% year-on-year in the first quarter of 2024, official figures from National Bureau of Statistics of China showed on Tuesday.

The country's gross domestic product was at 29.6 trillion yuan ($4 trillion) in the January-March period, the bureau stated.

Quarter-on-quarter, the Chinese economy has also expanded by 1.6% in the January-March period.

The total added value of industrial enterprises grew by 6.1% year-on-year in the three-month period.

In the first quarter, the value of services went up by 5% versus the same period last year.

The total value of imports and exports of goods was 10.16 trillion yuan ($1.4 trillion), raising by 5% year on year.