Indian media: Why is China's GDP still growing by 5.3% in the first quarter?
With policy support, China's GDP grew rapidly in the first quarter, exceeding market expectations.
China's economic growth in the first quarter exceeded expectations, and the momentum led by factory output was more solid, which not only demonstrated the government's determination to promote economic development, but also strengthened the market's confidence that the government will meet its annual target.
Gross domestic product (GDP) grew 5.3 percent year-on-year from January to March, according to the latest data released by China's National Bureau of Statistics on Tuesday, which is not only higher than the median forecast of 4.8 percent for Bloomberg's survey of economists, but also slightly higher than the 5.2 percent growth rate in the final quarter of 2023.
Other key figures are as follows:
- Industrial production rose 4.5% year-on-year in March, slightly below economists' expectations of 6%.
- In the first quarter, industrial output showed a strong 6.1% increase.
- Retail sales rose 3.1%, slightly below market expectations of 4.8%, but still showing solid growth.
- In the first three months, fixed asset investment rose 4.5 percent, in line with expectations of 4 percent. However, the property sector continued to struggle, with investment falling sharply by 9.5% over the same period.
- The urban unemployment rate has fallen, from 5.3% in February to 5.2% last month.
Despite this, China's economic recovery remains uneven and requires a concerted effort by the government and all sectors of society to achieve more comprehensive and sustainable growth.
印度人dreamdoctor说：
China is really good at growing crops and vegetables, but they also have to import a lot of food from other countries. Although China is very strong in many aspects, we have to admit that we are still a little behind, but the good thing is that we are also slowly improving.
Another Indian netizen honey is more optimistic:
He thinks that by the end of Modi's third term, ten years from now, India will be half as good as China in many ways.
网友Zasakaija泼了盆冷水:
The Indian government has been inflating GDP figures for the past decade, and the size of India's economy is less than $3 trillion.
Indian Soumya questioned:
Can such a huge economy grow by 5.3 percent? Aren't these figures fabricated? China's economic growth is really shocking.
Netizen ImFin responded:
If you want to drive India's development and progress, the first thing to do is to face up to the achievements of others. When China's economy was about the size of India today, their GDP growth rate was a staggering 14%.
印度人niprince回应说:
Brother, I am willing to accept the facts, but you must also understand that the GDP figure of 17.7 trillion dollars is not the real size of their economy, but they themselves fabricated.
No one denies China's great economic success, it's just that we can't determine the exact data on their economy.
印度网友Mukesh Dhiman惊叹道:
It's unbelievable that a $19 trillion economy can sustain a growth rate of 5.3%!
This represents an increase of $1,000 billion per year, compared to a 7.5% increase in India's GDP of only $300 billion. In fact, China's economic growth is three times that of ours.
另一名网友responsibilityBhag补充道:
Looking at China's cities and infrastructure, even the United States, with its $27 trillion economy, is overshadowed.
China's GDP of 17-18 trillion dollars, I think is very reasonable. At first glance, it's hard to believe that China's GDP is only $12,000, while the United States' GDP per capita is as high as $83,000.
Indian netizen Atoki Mruk also agreed:
The fact that an $18 trillion economy can sustain growth of 5.3% is a huge achievement in itself. India's economy must achieve double-digit growth to take its place on the international stage and significantly improve the overall well-being of its people.
So what about the next decade, when India also joins the ranks of the $10 trillion economy?
网友：poojasing
China's impressive figures, such as foreign exchange reserves, trade exports, power generation, etc., as well as industrial output and shipbuilding orders, are much higher than India's, so he wonders what China's GDP really looks like.
5.3% is actually China's GDP growth rate in the first quarter, not the whole year.
Netizen: oorche
To put it simply, China's economic growth is about five times that of India. Some people worry that their economy will collapse, and that fear is a bit overdone.
If you think about it, if their economy really collapses, it will not only be hit hard, but the global economy, including the United States, will be hit hard. At the same time, India's growth rate has not met expectations.
印度网友Tamerlane:
Although China itself does not consider itself a developed country and does not value GDP very much, it does perform quite well in terms of trade, power generation, and industrial output, which are more than five times that of India. Not to mention China's car exports, shipbuilding orders, and the start of building large airplanes.
Overall, while GDP and economic data are the focus of attention, each country has its own pace and focus on development.
Large countries like China and India, whose development is not only about themselves, but also affect the global economy.
Therefore, we have to look at the problem holistically, not just at the surface data, so that we can get a more accurate picture of the real situation in a country.
So do you think India will be able to sustain double-digit growth, and if so, when will they catch up?