China’s GDP Growth in 1Q Largely Beat Expectations with 4.5% Expansion

The economic growth in China grew 4.5% in the first quarter of 2023 from a year earlier, according to the official announcement on Tuesday.

The growth in 1Q23 of the world’s second largest economy beat forecasts of a 4% expansion estimated by economists after the country abruptly exited the stringent zero-Covid policy in early January.

Gross domestic product also picked up from a 2.9% growth in the final quarter of last year.