China GDP: If retail sales increased, the GDP growth rate in China increased, know where it reached – china gdp grew more than four percent in first quarter

Beijing: Encouraging figures have emerged in the world’s No. 2 economy China. There the effect of increase in retail sale and consumption is visible. China’s gross domestic product or GDP has increased. According to government data released here on Tuesday, the GDP grew by 4.5 per cent during the January to March quarter this year. This is higher than the same period last year.

According to data released by China’s State Bureau of Statistics on April 18, China’s gross domestic product value in the first quarter of this year was 284 trillion 99 billion 700 million yuan. This is 4.5 percent more than the same period a year ago. Whereas, it is 2.2 percent more than the previous quarter. According to statistics, in the first three months of this year, the added value of the first industry increased by 3.7 percent compared to the same time last year. While the value added of second industry and third industry increased by 3.3 percent and 5.4 percent respectively.

Fixed asset investment in the first quarter was 107.28 billion yuan, up 5.1 percent from the same period last year. The total amount of merchandise exports and imports was 988.77 billion yuan, an increase of 4.8 percent.

In the first quarter, the unemployment rate in cities and towns was 5.5 percent and the consumer price index (CPI) increased by 1.3 percent.

According to Fu Linghui, spokesman for the Chinese State Bureau of Statistics, in the first quarter, there was a steady restoration of production and demand in China, and the employment situation and commodity prices remained stable. Along with this, the beginning of economic operations was good.

Consumption is again increasing behind the GDP growth in China. After Corona, people started roaming around in shopping malls and restaurants. There the restrictions of COVID-19 have also been loosened. That is why the retail sale of consumer goods has increased by 7.1 percent in the last March.