Beijing, April 20: The National Bureau of Statistics of China recently released key figures for the first quarter of 2026. The economic performance has surpassed expectations, showcasing the resilience and vitality of the Chinese economy.
In the first quarter, China’s GDP grew by 5% year-on-year, a notable improvement compared to 4.5% in the fourth quarter of the previous year. This growth rate exceeds general market forecasts. In March, the Chinese government’s work report set an economic growth target of 4.5% to 5% for 2026. The first quarter’s growth rate has reached the upper limit of this target, laying a strong foundation for stable economic operations throughout the year.
Since the beginning of the year, global geopolitical conditions have become increasingly unstable, significantly impacting the global economy, especially the energy market. Despite these external pressures, China, as the world’s second-largest economy, achieved a 5% growth rate, which is no small feat.
Tian Xuewen, Director of the Guanghua Management School at Peking University, stated in an interview with China Media Group that the first quarter figures are impressive and have exceeded most expectations. In the context of the current global economic downturn, a strong start for the Chinese economy is beneficial for the world economy.
The 5% growth is attributed to continuous improvements in China’s economic structure and the rapid development of new growth engines. According to data, the added value of China’s equipment manufacturing industry increased by 8.9% year-on-year in the first quarter, accounting for 35.1% of the industrial added value and contributing nearly 50% to overall industrial growth. High-tech manufacturing saw a year-on-year increase of 12.5%, contributing 51.8% to the profits of overall industrial enterprises. Innovative scientific and technological advancements are becoming the main engine of China’s economic growth.
China’s foreign trade figures for the first quarter were also remarkable. This indicates China’s significant role in the global production and supply chain. The total import and export value of goods in the first quarter reached 11.84 trillion yuan, the highest in history, reflecting a year-on-year increase of 15%. Notably, trade between China and India exceeded $43.13 billion, marking a year-on-year increase of 19.9%. Exports and imports from China to India grew by 17.5% and over 37.5%, respectively.
In the first quarter, China imported goods worth 4.99 trillion yuan, a year-on-year increase of over 19.6%. The growth rate of imports outpaced exports by 7.7%, indicating that China is actively increasing its imports. Wang Chun, Deputy Director-General of the General Administration of Customs, recently stated that China aspires not only to be the world’s factory but also to become a global market.
There was also a noticeable improvement in China’s Consumer Price Index (CPI) and Producer Price Index (PPI) in the first quarter. Particularly in March, the PPI increased by 0.5% year-on-year, ending a 41-month decline. This is considered a significant positive signal for the Chinese economy.
Local analysts believe that the strong economic performance in the first quarter has boosted confidence in China’s future development. However, the external environment for the Chinese economy remains complex and severe, and the issue of weak domestic demand is unresolved. To strengthen the trend of stable growth, more proactive overall policies need to be implemented.
(Source: China Media Group, Beijing)
My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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