Beijing, China’s gross domestic product (GDP) grew 5.3% year on year in the first quarter of 2024, data from the National Bureau of Statistics (NBS) showed Tuesday.

The country’s GDP reached 29.63 trillion yuan (about $4.17 trillion) during this period, the NBS data showed.

On a quarterly basis, the economy increased 1.6% in the first three months, it added.

China’s GDP grew 5.2% year on year last year and the country has targeted its full-year economic growth at around 5% for 2024.

Source: Qatar News Agency