China posts stronger‑than‑expected Q1 growth

China’s economy grew 5.0% in the first quarter, beating forecasts and giving Beijing an early hit on its 2026 growth goal. (stats.gov.cn) (msn.com) The National Bureau of Statistics said gross domestic product reached 33.4 trillion yuan in January through March, up 5.0% from a year earlier and 1.3% from the previous quarter. Reuters reported economists had expected 4.8% growth. (stats.gov.cn) (msn.com) Industrial output rose 6.1% in the quarter, faster than in late 2025, while the services sector expanded 5.2%. March factory output slowed to 5.7% from 6.3% in January-February, a sign the quarter ended less strongly than it began. (stats.gov.cn) (msn.com) (money.usnews.com) Beijing set its 2026 growth target at 4.5% to 5% on March 5 and said it would lean harder on domestic demand as external uncertainty intensified. First-quarter growth at 5.0% puts the economy at the top of that range in the opening months of the year. (english.www.gov.cn) (stats.gov.cn) The stronger headline number lands as China is still dealing with weak demand at home and a long property downturn. Officials said fixed-asset investment rose 1.7% in the quarter, reversing last year’s decline, but property investment remained a drag and commercial building sales kept falling. (english.news.cn) (gbcode.rthk.hk) The external picture has become harder since the quarter began. Reuters said China’s early-2026 momentum was helped by exports, but the Iran war has pushed up energy costs and raised risks for trade flows tied to the Strait of Hormuz. (msn.com) (money.usnews.com) The International Monetary Fund cut its 2026 China growth forecast to 4.4% this week as it warned that prolonged shipping disruption and higher oil prices could weaken global growth. IMF chief economist Pierre-Olivier Gourinchas said on April 14 that the world was drifting closer to an “adverse scenario.” (govt.chinadaily.com.cn) (money.usnews.com) That leaves China with a stronger first quarter on paper and a tougher rest of the year ahead. The next test is whether consumption and investment can hold up if export demand and energy costs move against Beijing in the second quarter. (stats.gov.cn) (msn.com)