Photo: Collected
China's gross domestic product (GDP) increased by 5.3% year-on-year in the first quarter of 2024, the National Bureau of Statistics of China said on Tuesday (16 April).
"According to preliminary estimates, the gross domestic product (GDP) in the first quarter reached 29,629.9 billion yuan ($4.09 trillion), up by 5.3 percent year on year at constant price, or up by 1.6 percent over that in the fourth quarter of 2023," the agency said in a statement.
China's industrial output rose by 6.1% in the first three months of the year compared to the same period in 2023, the statement read.
Meanwhile, nationwide per capita disposable income of Chinese residents stood at 11,539 yuan in the first quarter of 2024, showing a nominal and real increase of 6.2% year-on-year, the statement read.
China's urban surveyed unemployment rate averaged 5.2% in the first quarter of 2024, down 0.3 percentage points from the same period last year, the bureau said.
Moreover, China's total retail sales of consumer goods reached 12.03 trillion yuan in the first quarter of this year, jumping by 4.7% year-on-year, the statement also said.
"Analyzed by different areas, the retail sales of consumer goods in urban areas reached 10,428.0 billion yuan, up by 4.6 percent, and that in rural areas stood at 1,604.7 billion yuan, up by 5.2 percent. Grouped by consumption patterns, the retail sales of goods were 10,688.2 billion yuan, up by 4.0 percent; the income of catering was 1,344.5 billion yuan, up by 10.8 percent ... the online retail sales of physical goods were 2,805.3 billion yuan, up by 11.6 percent, accounting for 23.3 percent of the total retail sales of consumer goods," the statement added.
In 2023, China's GDP grew by 5.2% and reached 126.058 trillion yuan.
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