China’s economic growth accelerated in the most recent quarter as consumers returned to stores and restaurants after the abrupt end to coronavirus restrictions.
Gross domestic product growth of 4.5% in the January-March period compared to the same period in 2022 was the fastest last year, and outpaced the 2.9% growth in the previous quarter, according to government data released Tuesday.
But the authorities warned that China will likely face import and export pressures in the coming months amid an uncertain international economic environment, and also warned of insufficient domestic market demand in the world’s No. 2 economy.
Fu Lingwei, director-general of China’s National Bureau of Statistics, said the authorities will implement various policies to stabilize growth and stimulate domestic demand, as well as to help support the development of emerging industries.
The higher-than-expected rise in GDP for this quarter comes amid a rebound in consumption, as people flocked to shopping malls and restaurants after “zero Covid” restrictions were removed at the end of 2022.
This article was originally published by RT.