China Recorded 4.8% Growth In 2022 First Quarter Amid Pandemic Surge
NDTV
China's economy grew at 4.8 per cent in the first quarter, falling below the 5.5 per cent target set for this year by Communist Party
China's economy grew at 4.8 per cent in the first quarter, falling below the 5.5 per cent target set for this year by the ruling Communist Party, amidst a surge in COVID-19 cases which prompted top business hubs like Shanghai to enforce prolonged lockdowns.
The country's gross domestic product (GDP) grew 4.8 per cent year on year during January to March, picking up pace from a 4 per cent increase in the fourth quarter last year, data from the National Bureau of Statistics (NBS) showed on Monday.
The world's second largest economy posted a stable performance with continued recovery as China balanced the epidemic control and economic and social development, NBS spokesperson Fu Linghui said at a press conference.
After a strong rebound in 2021, China witnessed some unexpected challenges at the beginning of this year, with a volatile global situation and multiple sporadic COVID-19 outbreaks on the domestic front, he said.
