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China's economic growth in the first quarter also exceeded expectations

by endroar
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Jeff Ying also said, however, China's economic outlook is still very negative. According to him, by the end of this year, this attitude may pass, then a positive attitude may develop among people.

Meanwhile, compared to the previous quarter, the GDP increased by 1.6 percent in the first quarter of this year, although the forecast was 1.4 percent.

While economies around the world contracted early in the course of Covid, China did well. But China was unable to maintain that trend later due to various internal structural crises, including the continuation of restrictions until the end of 2022. 30 percent of the country's GDP comes from the housing sector; There is an extreme crisis in the housing sector. Several large housing companies have gone bankrupt. This situation has also arisen due to the increase in local government debt and decrease in personal consumption.

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