China’s economy exceeded expectations in the first quarter of the year, growing at an annual rate of 5.3%, surpassing forecasts of 4.8%, the government announced. This growth, up from 1.6% the previous quarter, comes as the country continues to recover from pandemic-related slowdowns and a property crisis. Despite a recent dip in imports, exports, and inflation pressures, industrial output rose by 6.1%, and retail sales increased by 4.7% year-over-year. Fixed investment also grew by 4.5%. According to Oxford Economics’ Louise Loo, the growth was fueled by strong manufacturing, holiday spending, and investment-boosting policies. However, she cautioned that post-holiday data and fluctuating external demand might signal upcoming challenges. China aims for a 5% GDP growth in 2024 amidst various fiscal and monetary interventions.