Summary
- Despite the U.S.-China tariff war, China's Q1 GDP recorded a 5.4% growth, exceeding market expectations.
- China's domestic demand expansion is a key factor in this growth, with March retail sales also surpassing market expectations with a 5.9% increase.
- Thanks to these economic achievements, the yuan value is also maintaining stability.
Amid the escalating U.S.-China tariff war, China has posted results that far exceed market expectations for the first quarter of this year.
The National Bureau of Statistics of China announced on the 16th that China's Gross Domestic Product (GDP) for the first quarter increased by 5.4% compared to the same period last year, surpassing the market forecast of 5.2%.
Domestic demand expansion offset the impact on exports. In fact, China's retail sales in March were expected to increase by 4.3% compared to the same period last year, but recorded 5.9%. This is the fastest growth in over a year. The favorable economic report, which exceeds market expectations, is stabilizing the value of the Chinese yuan.
Beijing=Kim Eun-jung, Correspondent kej@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
