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Q1 data reflects confidence and strength of Chinese economy

chinadaily.com.cn | Updated: 2024-04-19 06:40

Wang Dan, chief economist at Hang Seng Bank China. [Photo provided to chinadaily.com.cn]

The Q1 growth beat market expectations by a wide margin, and manufacturing and infrastructure were the main engines. Housing market consolidation is also deepening.

In the second half of the year, economic data may improve further, primarily driven by the government. After all, we are still in an economic cycle that tends to rise from the bottom, making government projects very important. Many local government projects actually gain momentum from mid-year onwards. As these projects unfold, economic data for the second half of the year is expected to be better.

Exports are expected to continue rising this year. So far this year, we have observed that companies engaged in exports, especially those targeting Europe and America, have performed quite well.

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