ChinaZhōngguó中国first quarteryī jìdù一季度economy / economicjīngjì经济growth rate / rate of increasezēngsù增速to reach / to hitdá达5 percent / five percentbǎifēn zhī wǔ百分之五，to exceed / to surpasschāochū超出market expectationsshìchǎng yùqī市场预期。
April 23, 2026 at 11:30 AM
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BusinessChina First Quarter Economic Growth Hits 5 Percent Beating Market Expectations
China National Bureau of Statistics reported that GDP grew 5 percent in the first quarter of 2026, beating the market forecast of 4.8 percent. New energy vehicle and lithium battery exports drove growth, though exports to the United States fell sharply.
China's National Bureau of Statistics recently announced that Q1 2026 GDP growth rate reached 5 percent.
This figure exceeded the 4.8 percent forecast by economists and was also faster than the previous quarter's 4.5 percent growth rate.
New energy vehicles, lithium batteries, and wind energy equipment exports demonstrated outstanding performance, driving overall export growth.
However, China's exports to the United States declined 26.5 percent year-on-year in March.
Experts note that rising global energy prices triggered by Iran's war are putting pressure on China's manufacturing industry.
Beijing has set this year's economic growth target between 4.5 percent and 5 percent.
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