Beijing. China’s gross domestic product (GDP) grew by 4.5 percent in the first quarter of 2023. This information was given in the government data released on Tuesday.
During this period, the economy got strength due to increase in consumption and retail sales. Experts said that economic activities have increased after the government abandoned the strict policy regarding the Covid epidemic. The growth rate of the economy was 2.9 percent in the same period last year (January-March 2022).
Movement of people to markets and restaurants increased after the lifting of COVID-19 restrictions, which supported GDP. Retail sales of consumer goods rose 10.6 percent year-on-year in March. In the first two months of the year, this figure was 7.1 percent. In March 2023, industrial production increased by 3.9 percent on an annual basis.
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