China’s economy kicked off 2024 with a strong start, as first-quarter data shows stable business operations and optimized growth strategies. 🚀 Vice Commerce Minister Guo Tingting highlighted these trends at a media conference, emphasizing their role in boosting the country’s economic recovery.
Consumer Power Drives GDP
Consumer spending stole the spotlight, contributing a whopping 73.7% to China’s 5.3% year-on-year GDP growth. Sales of upgraded goods—think smart tech and eco-friendly products—surged, proving that spending is still king in fueling growth. 💸📱
Trade Triumph
Trade hit a record 10.2 trillion yuan ($1.43 trillion) in Q1, marking a 5% jump—the fastest growth in six quarters. Net exports alone drove 14.5% of the GDP rise, while collaboration with Belt and Road partners grew by 5.5%. Even trade with the U.S. saw a notable rebound! 🌐📦
What’s Next?
With resilient markets and a focus on high-quality growth, China’s economy is set to keep its momentum. As Guo noted, 'The foundation for recovery is strengthening.' 🏗️✨
