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YU BIN-Q1 economic figures largely beat expectations

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Q1 economic figures largely beat expectations

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Q1 economic figures largely beat expectations

2022.05.16

The country's gross domestic product grew 4.8 percent year-on-year to 27.02 trillion yuan ($4.24 trillion) in the first three months, picking up pace from a 4-percent increase registered in the previous quarter, data from the National Bureau of Statistics showed Monday.

As CNBC reported, the growth of first-quarter GDP beat expectations of a 4.4 percent increase. Fixed-asset investment for the first quarter rose 9.3 percent on a yearly basis, topping expectations of 8.5 percent growth. Industrial production in March rose by 5 percent, beating a forecast for 4.5 percent growth.