China's GDP Grows by 5.3% in 1st Quarter of 2024

03:54 PM @ Tuesday - 16 April, 2024

China's gross domestic product (GDP) increased by 5.3% year-on-year in the first quarter of 2024, the National Bureau of Statistics of China said on Tuesday.

In 2023, China's GDP grew by 5.2% and reached 126.058 trillion yuan.

"According to preliminary data, China’s GDP for the first quarter of 2024 amounted to 29.629 trillion yuan ($4.09 trillion), an annual growth rate of 5.3%," the agency said.

Earlier experts told Sputnik that China will most likely overtake the US as the world's top economy by 2035 provided that Beijing maintains its GDP growth of about 5% annually in the next few years.  – Sputnik