Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Israeli drone targets motorcycle in Nabatieh al-Fawqa, South Lebanon.
US President Donald Trump: I don't want to say Israeli strike is imminent
US President Donald Trump: Israeli strike [on Iran] could very well happen
US Ambassador to Tel Aviv Mike Huckabee: Israeli attack on Iran without US greenlight is unrealistic scenario.
Iranian media: Documents indicate that Merav Zafary-Odiz was tasked with stoking confusion about Iran's peaceful nuclear program
Iranian media: The documents indicate that Merav Odiz was tasked with diverting world opinion away from "Israel's" non-peaceful nuclear program
Iranian media: Documents reveal direct coordination between the Zionist entity's representative, Merav Zafary-Odiz, and Grossi
Iranian media: One document reveals that Merav Zafary-Odiz, "Israel's" representative at the agency, requested an immediate meeting with Grossi on May 10, 2016
Iranian media: One document reveals coordination between the [Israeli] entity and Grossi to incite tensions against Iran just five months after the nuclear agreement was concluded
Iranian media: Documents confirm that Grossi began his cooperation with the entity in 2016 and coordinated reports against Iran's peaceful nuclear activities

China exceeds Q1 GDP expectations amid growth

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Apr 2024 21:43
  • 2 Shares
3 Min Read

The IMF warned that China's troubled property sector could impede economic recovery.

  • x
  • Construction cranes are seen at construction sites near office buildings of the main business district in Beijing, China, Saturday, March 30, 2024. (AP Photo/Tatan Syuflana)
    Construction cranes are seen at construction sites near office buildings of the main business district in Beijing, China, Saturday, March 30, 2024. (AP Photo/Tatan Syuflana)

China's economy surpassed expectations in the first quarter of 2024, an analysis by AFP reveals, as data from the National Bureau of Statistics showed that for the first three months of the year, GDP rose 5.3%, compared with 5.2 in the previous quarter.

"The national economy continued the good momentum of a rebound," the NBS said, calling it a "good start".

Dan Wang, chief economist at Hang Seng Bank China, told AFP: "Consumption and housing investment (were) the main drag, while manufacturing and infrastructure were the main engines."

It reflects "the fundamental policy shift from a focus on (the) consumer market and service sector to... industrial growth".

Read more: Evergrande Chairman banned from China's stock market for life

A report by a multinational think tank, including scholars from the US, Russia, Canada, India, and China, forecasts that China's GDP will likely surpass that of the US around 2035, making it the world's largest economy. The report suggests that China's robust growth will drive the global economy forward.

Related News

Target shuts nine stores after billions in loss due from retail crimes

US retailers raise alarms over surge in thefts amid ongoing inflation

The report also emphasized that China must depend on sustained and cumulative "compounding interest" to set its vision for 2035. This entails gradually achieving high-quality development and fostering the cultivation and development of new high-quality productive forces.

Read next: China's factory activity rebounds after five-month slump

The ambitious estimate was one of the 10 visions outlined for China in 2035 in a joint research report by a multinational think tank team, which included the Chongyang Institute for Financial Studies at Renmin University of China. 

Domestic and foreign analysts anticipate that China will sustain its growth momentum and meet its annual GDP growth target for 2024, while navigating challenges cautiously. The report suggests that China is likely to surpass the US as the world's largest economy around 2035, provided it maintains annual GDP growth of approximately 5% in the coming years and at least 4% growth until 2035.

The vision is founded on several factors, including China's faster economic growth compared to the US, the continuous appreciation of the yuan, its increased internationalization, and the long-term bullish outlook for the yuan against the US dollar, as outlined in the report. The report stated that developing countries are poised to become the core engine of global economic growth, with their high growth rates potentially doubling global GDP in the next decade.

China has set an economic growth target of approximately 5% for 2024, surpassing the expectations of certain international institutions.

John Ross, a senior fellow at the Chongyang Institute for Financial Studies, emphasized to the Global Times that China's investment is significantly more efficient than that of the US, pointing out that if China invests approximately 40% of its GDP, then its GDP growth will reach 5%. This suggests that China's economic growth rate will largely surpass that of the US and the EU, based on data from last year, and China will continue to be the primary driver of global economic growth as it has been for the past four decades.

The report highlighted China's remarkable achievements in high-quality economic and social development in recent years, attributing these successes to China's "compounding interest" principle.

  • Retail sector
  • China
  • Chinese economy
  • Property and real estate

Most Read

The logo of the Iranian Ministry of Intelligence (wikidata)

Iran acquired thousands of sensitive Israeli documents: Exclusive

  • Politics
  • 7 Jun 2025
Iranian demonstrators walk on a caricature of the Israeli Prime Minister Benjamin Netanyahu during the annual Quds Day rally in support of Palestinians, in Tehran, Iran, Friday, March 28, 2025 (AP)

Iran hits 'Israel' hard without arms; intel breach lays Tel Aviv bare

  • Politics
  • 7 Jun 2025
Iranian Intelligence Minister Esmaeil Khatib in an undated photo (Nournews)

Iranian security minister reveals major intelligence haul on 'Israel'

  • Politics
  • 8 Jun 2025
IAEA leaked to 'Israel' confidential communications with Iran: Fars

IAEA leaked to 'Israel' confidential communications with Iran: Fars

  • MENA
  • 10 Jun 2025

Coverage

All
War on Gaza

Read Next

All
U.S. National Guard are deployed around downtown Los Angeles, Sunday, June 8, 2025, following a immigration raid protest the night before. (AP Photo/Eric Thayer)
US & Canada

ICE raids in LA trap families in harsh conditions: Lawyers

Colombia's President Gustavo Petro speaks at a rally to garner support for a referendum on labor reform, in Cali, Colombia, on June 11, 2025. (AP Photo/Santiago Saldarriaga)
Politics

Petro slams US-linked coup plot, signs decree for popular consultation

President Donald Trump speaks as he signs executive orders in the Oval Office of the White House on April 17, 2025. (AP)
US & Canada

World sees Trump as ‘arrogant’, ‘dangerous’ as ratings sink: Poll

he Department of Defense logo is seen on the wall in the Press Briefing room at the Pentagon on, Oct. 29, 2024 in Washington. (AP Photo/Kevin Wolf, File)
Politics

Future of $240bln AUKUS deal in doubt as Pentagon launches review

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS