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(China Economic Roundtable) Stable growth of China’s economy adds certainty to the global economic landscape: senior statistics official-Xinhua

File photo shows a view of the Lujiazui area in the Chinese (Shanghai) Pilot Free Trade Zone in Shanghai in eastern China. (Xinhua/Fang Zhe)

BEIJING, April 25 (Xinhua) — China’s economic performance got off to a “good start” in the first quarter of 2024, bringing certainty to the volatile global economic landscape, a guest speaker said at the fourth episode of the China Economic Roundtable, an all-media talking platform hosted by Xinhua News Agency.

The global economic landscape will still experience a year of uncertainty, with a complicated international environment, frequent geopolitical conflicts and the trend of high inflation, high debt pressure, high interest rates and low economic growth remaining unchanged, said Wang Guanhua, UN spokesman . National Bureau of Statistics (NBS).

Against this backdrop, China’s GDP grew by 5.3 percent in the first quarter over the same period of 2023, compared with an overall growth of 5.2 percent last year and above the annual growth target of around 5 percent set for this year determined, NBS data showed.

The country’s foreign trade volume in the first quarter exceeded 10 trillion yuan (about US$1.41 trillion) for the first time in the same period, growing by five percent from a year ago, with the growth rate being the highest level reached in six quarters.

Commenting on the data, Wang said the robust performance reflected the fact that the fundamentals of China’s macroeconomy remained solid, and the economy had become stronger with sturdier “muscles and bones” through transformations and upgrades.

“On a global scale, the country has maintained a leading position among the world’s major economies and has continued to serve as an important engine and stabilizer for the global economy,” Wang added.