Guangzhou (JLC), April 16, 2025--China's gross domestic product (GDP) expanded by 5.4% year on year in the first quarter (Q1) of 2025, according to the latest data released by the National Bureau of Statistics (NBS) on Wednesday.
The country's GDP reached 31.88 trillion yuan (about 4.42 trillion US dollars) in Q1, the NBS data shows.
The expansion was better than the market expectations and suggested that China was on track to achieve its annual growth target of around 5%.
Compared with the last quarter in 2024, China's GDP grew by 1.2%.
The value added by the primary industry rose by 3.5% year on year to roughly 1.17 trillion yuan in the period; that by the secondary industry grew by 5.9% to about 11.19 trillion yuan; and that by the tertiary industry mounted by 5.3% to 19.51 trillion yuan, the data also shows.
Retail sales of goods, a key measurement of consumer spending, inflated by 4.6% year on year to 12.47 trillion yuan in the first three months.
The investment in fixed assets went up by 4.2% year on year to 10.32 trillion yuan. By sector, the investment in infrastructure construction climbed by 5.8%, that in manufacturing gained 9.1%, but that in real estate development dropped by 9.9%, the NBS said.
The investment in the primary and secondary industries surged by 16.0% and 11.9%, while that in the tertiary industry edged up by 0.1%.
The value of China's imports and exports hit about 10.30 trillion yuan in Q1, up by 1.3% from the corresponding period of time last year. Its exports gained 6.9% to 6.13 trillion yuan, while its imports fell by 6.0% to 4.17 trillion yuan.
The country's value-added industrial output, an important economic indicator, went up by 6.5% in the period, the NBS data also indicates.
