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MNI BRIEF: China Exports Face Difficult Year - NBS

MNI (BEIJING)
MNI (Beijing)

China’s export industry will face challenges for the remainder of the year, despite strong Q1 results, according to Fu Linghui, spokesperson for the National Bureau of Statistics (NBS).

Responding directly to a question from MNI on Tuesday, Fu said global uncertainty related to inflation, geopolitics and banking turmoil will negatively impact exports, which grew 8.4% in Q1. But authorities will pursue policies to stabilise high-quality foreign trade and adhere to opening-up reforms, he added. Electric vehicle makers and ASEAN nations had shown strong increased demand during Q1, Fu said.

China's GDP increased 4.5% y/y in Q1, beating the market consensus of 3.8% y/y and marking the quickest growth within a year, data released by the National Bureau of Statistics on Tuesday showed (See: MNI BRIEF: China GDP Up 4.5% Y/Y In Q1).

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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