China’s first-quarter gross domestic product data showed an economy rebounding following one of its worst years for growth in decades after the country’s largest cities were locked down to stem a coronavirus outbreak and a global slowdown hit demand for exports.
But while the figures indicated China was on track to meet or exceed its target of 5 per cent growth for the year, with momentum expected to pick up in the second quarter, economists warned that the recovery was uneven and remained in the early stages.
The National Bureau of Statistics said that while the first quarter had “made a good start”, domestic demand remained “inadequate” and “the foundation for economic recovery is not solid yet”.
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