The country's robust 5.3 per cent year on year (YoY) economic growth in the first quarter (Q1) this year surpassed market expectations and marked a strong beginning, Zhu told the J.P. Morgan Global China Summit in Shanghai.
The domestic economy's three main highlights in Q1 2024 were a YoY increase in its industrial added value, which outpaced the country's overall economic growth, as well as the diversification of the country's export products and destinations, and the rise of new technologies and industries as drivers of economic growth, a state-controlled news agency cited Zhu as saying.
Zhu expects the exchange rate of Chinese currency renminbi to stay largely stable throughout the year, despite the currency facing the pressure of short-term depreciation against the US dollar.
Fibre2Fashion News Desk (DS)