China's GDP expands 4.5 pct year on year in Q1

China's gross domestic product grew 4.5% year on year in the first quarter of 2023, data from the National Bureau of Statistics (NBS) showed. This was reported by The Xinhua News Agency.

On a quarterly basis, the economy increased 2.2% in the first three months.

"China's national economy made a good start this year, and market expectation saw significant improvement", – said NBS spokesperson Fu Linghui.

China's GDP grew 3% year on year in 2022, and 2.9% year on year in the fourth quarter of last year.