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
Israeli media citing Occupation President Herzog: I received official request from Trump to consider pardoning Netanyahu
Maduro: The comprehensive defense command, which unites all public military institutions and all popular forces, must be activated in the early hours of this morning
Venezuelan President Nicolas Maduro signs law establishing a comprehensive national defense command
Colombian President Gustavo Petro orders suspension of intelligence sharing with the United States
Channel 12: Israeli Minister of Strategic Affairs Ron Dermer resigns from his post.
Al Mayadeen's correspondent: Islamabad says 9 killed, 12 wounded in suicide bombing outside courthouse.
Syrian Foreign Ministry: Trump expressed his country's support for reconstruction and investment efforts in Syria, affirming his commitment to proceeding with lifting the Caesar Act sanctions
Syrian Foreign Ministry: The American side affirmed its support for reaching a security agreement with "Israel" aimed at strengthening regional stability
Syrian Foreign Ministry: The two sides agreed to proceed with implementing the March 10 agreement, including integrating the SDF forces into the Syrian army
The Syrian Foreign Ministry: The meeting aimed to follow up on the agreements reached between Presidents Trump and al-Sharaa and to establish clear implementation mechanisms

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

An Al-Qassam fighter filmed during the deception operation while Israeli drones survey the site, Gaza, 2025 (Screengrab)

Al-Qassam publish footage of deception op. during 'captive' retrieval

  • Politics
  • 5 Nov 2025
Yemen busts CIA-Mossad-Saudi spy network operating from Saudi Arabia

Yemen busts CIA-Mossad-Saudi spy network operating from Saudi Arabia

  • Politics
  • 8 Nov 2025
Illustration of Hezbollah's open letter, published on November 6, 2025. (Illustarted by: Al Mayadeen English/Batoul Chamas)

Hezbollah issues open letter affirming right to resist

  • West Asia
  • 6 Nov 2025
US-backed ‘New Gaza’ plan draws Arab fury over 'partition' fears: FT

US-backed ‘New Gaza’ plan draws Arab fury over 'partition' fears: FT

  • Politics
  • 8 Nov 2025

Coverage

All
In Five

Read Next

All
TeleSUR President lauds Venezuela resolve in letter to Al Mayadeen CEO
Politics

TeleSUR president lauds Venezuela resolve in letter to Al Mayadeen CEO

Hezbollah's Secretary-General Sheikh Naim Qassem during his address on Martyr's Day, Nov. 11, 2025 (Screengrab)
Politics

Resistance will never surrender, victory is certain: Sheikh Qassem

MK Ayman Odeh speaks at the Knesset in occupied al-Quds, Monday, July 14, 2025. (AP)
Politics

Extremist settlers storm home in Haifa, disrupt meeting with MK Odeh

Foreign volunteers collect olives with local Palestinians in the West Bank village of Kafr Malik, Tuesday, November 4, 2025 (AP)
Politics

Israeli settlers attacks, violations escalate across the West Bank

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