China’s GDP grows by 6.4% in Q1

BEIJING: China today said its economy grew 6.4% in the first quarter of 2019, slightly more than expected despite the world’s second largest economy facing a host of headwinds, including a long-running trade war with the US.

Beijing, April 17 

China today said its economy grew 6.4% in the first quarter of 2019, slightly more than expected despite the world’s second largest economy facing a host of headwinds, including a long-running trade war with the US.

China’s GDP reached 21.343 trillion yuan (about $3.18 trillion) in the first three months of 2019, and the growth pace was the same with that of fourth quarter 2018, the National Bureau of Statistics (NBS) said on Wednesday.

The Chinese economy grew 6.4% in the year’s first quarter compared with the same period in 2018. 

The first quarter GDP growth was in the range of 6% to 6.5% target fixed by the Chinese government for this year. Last year the economy grew at 6.6 per cent.

The tertiary sector reported the strongest growth in added value by expanding 7% to reach 12.232 trillion yuan, which accounted for 57.3% of the total first quarter GDP. — PTI

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