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Chinese economy grows 5.4%, beating quarterly forecasts

Chinese economy grows 5.4%, beating quarterly forecasts

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China's economy started 2025 strongly, with a 5.4% annual growth rate in the first quarter, beating forecasts. The growth was driven by solid domestic consumption and industrial output. Discounts on electronics and other products on Taobao and other Chinese shopping apps, including electric rice cookers and 85-inch televisions, were offered, likely due to government subsidies.

National Bureau of Statistics of China
1. The foundation for sustained economic recovery and growth is yet to be consolidated.
Sheng Laiyun
National Bureau of Statistics of China
1. We have the strength, capability and confidence to face external challenges and achieve our set development goals.
2. At the moment, the imposition of high tariffs by the US will put certain pressures on our country's foreign trade and economy.
UBS
1. We think the tariff shock poses unprecedented challenges to China's exports and will set forth major adjustment in the domestic economy as well.
Societe Generale
1. Before the tariff storms hit, China's GDP growth likely eased but remained solid, thanks to the recovery in domestic demand.
2. Overall, the GDP report should show that stimulus is working, but the support will not stop here with bigger tariff challenges ahead.
Keyu Jin
London School of Economics
1. Tariffs have a way of forcing a reallocation of resources into exactly the areas which the Chinese government finds useful.
2. It has shown that China's reliance on exports to stimulate growth is becoming less potent and actually quite risky.
3. The Trump threat has forced the Chinese government to speed up on raising domestic consumption.
Steve Innes
SPI Asset Management
1. Much of this was front-loaded -- fueled by a burst of preemptive activity ahead of US tariff escalations and an inventory binge stateside as importers scrambled to get ahead of the curve.
Zhiwei Zhang
Pinpoint Asset Management
1. The damage from the trade war will show up in the macro data next month.