China announced today a 5.3% growth in its gross domestic product (GDP) for the first quarter of the year - an increase at a much faster pace than expected despite the real estate crisis and weak consumption exacerbated by economic uncertainty, reported France Presse, quoted by BTA.
A group of experts interviewed by AFP predicted an average increase of 4.6%. Beijing has set a goal this year to achieve "about 5%" growth, which is far from the double-digit growth of recent decades.
This growth rate, which would be the envy of most major economies, would be China's lowest since 1990 (3.9%), excluding the coronavirus period.