China’s economy beats expectations to grow 5.3% in first quarter

Women wearing masks pass by construction cranes near the central business district in Beijing, Tuesday, April 16, 2024. China’s economy expanded at a faster than expected pace in the first three months of the year, helped by policies aimed at stimulating growth and stronger demand, the government said Tuesday. (AP Photo/Ng Han Guan)

China’s economy grew faster than expected in the first quarter of the year with help from policies and stronger demand, though signs of weakness in the troubled housing market persisted.

The world’s second-largest economy expanded at a 5.3% annual pace in January-March, beating analysts’ forecasts of about 4.8%, data released on Tuesday showed. Compared with the previous quarter, the economy grew 1.6%.