China Experiencing Economic Rebound Amid Consumption Boost

China Experiencing Economic Rebound Amid Consumption Boost

China Experiencing, Economic Rebound , Amid Consumption Boost.

Associated Press reports that China's economic growth has accelerated over the last quarter after an abrupt end to pandemic controls.

As consumers return to shops and restaurants, China saw its gross domestic product grow 4.5% from January to March.

According to government data released on April 18, China's GDP from last quarter outpaced the previous quarter's 2.9% growth.

AP reports that authorities anticipate China will face import and export pressures in the months to come.

The forecast comes amid widespread concerns over an uncertain international economic environment.

Fu Linghui, director general of China’s National Bureau of Statistics, said that China will look to implement various policies to "stabilize growth.".

Fu Linghui, director general of China’s National Bureau of Statistics, said that China will look to implement various policies to "stabilize growth.".

According to Linghui, China will look to stimulate demand domestically, while also looking to support emerging industries.

According to Linghui, China will look to stimulate demand domestically, while also looking to support emerging industries.

The rise in GDP comes amid an economic rebound, as people emerged from strict "zero-COVID" restrictions that were lifted at the end of 2022.

In March, consumer goods saw a 10.6% increase in total retail sales.

The combination of a steady uptick in consumer confidence as well as the still- incomplete release of pent-up demand suggest to us that the consumer-led recovery still has room to run, Louise Loo, Economist at Oxford Economics, via Associated Press