The National Bureau of Statistics (NBS) said on Wednesday (16) that the GDP Chinese growth reached 5.4 % in the first quarter.
This period is preceded by the definitions imposed by the President of the United States, Donald Trump to the second largest global economy.
This growth exceeded the expectations of more than 50 economists included in Reuters, who expected a 5.1 % expansion, and continues a modern series of surprising strong growth driven by exports, which were observed in late 2024.
“The national economy had a stable and good start and continued the increasing direction,” Shing Lion, deputy director of NBS, told a press conference.
“However, we also need to see that the current external environment has become more complicated and intense, and that effective internal demand is not sufficient,” he added.
S. China growthIt focuses the second largest economy in the world while the country deals with the consequences of a growing trade war with the United States.
This was added to the economic problems that the company faced for years: a crisis in the real estate sector, the spectrum of low prices and the frequency of consumers in spending.
NBS data has announced its growth in the first quarter, which is especially exciting for trade relations between the United States and China. During this period, Trump imposed two rounds of prices, which total China reached 20 %, related to fentanel.
The numbers do not include the addition of Trump’s “mutual” definitions on Chinese imports, which came into effect in April. Total definitions about China now exceeds 145 %.
In response to a question about the impact of definitions, Xing said China is opposing the American tariff barriers and “commercial intimidation”. Although the customs tariff brings “some pressure” to the Chinese economy, it “cannot change the general trend of the long -term economic improvement in China,” he said.
“The economic base in China is stable and flexible and has great potential, so we have the courage, ability and confidence to face external challenges and achieve fixed development goals.”
NBS (NBS)
Last month, Beijing set an ambitious goal of the growth of “about 5 %” for this year, in a difficult demonstration of confidence in the export economy. However, economists believe it will be difficult to reach this goal.
“We believe that the trauma of customs tariffs represents unprecedented challenges to China’s exports and will also define major amendments to the home economy,” UBS economists led by Tao Wang lead in a research note issued on Tuesday (16).
They reduced the prediction of economic growth to 2025 from 4 % to 3.4 %, assuming that dual definitions will remain and that Beijing will eventually announce additional stimulus measures.
Last week, the Investment Bank, Goldman Sachs, said that the American definitions would “weigh heavily” in the Chinese economy. The country fell the forecasts of GDP growth to 2025 and 2026 to 4 % and 3.5 %, respectively, 4.5 % and 4 %.
