China's GDP rose by 6.4% in Q1 2019

World Wednesday 17/April/2019 15:30 PM
By: Times News Service
China's GDP rose by 6.4% in Q1 2019

Beijing: The Chinese economy grew by 6.4 percent in Q1 2019 compared to the same period last year, according to official data released on Wednesday.

China's Gross Domestic Product (GDP) reached 21.343 trillion yuan (around $3.18 trillion) in the first three months of 2019. The figures were similar to the 6.4 percent posted in Q4 2018, according to the country's National Bureau of Statistics (NBS).

The tertiary sector reported the strongest growth in added value at 7 percent and accounted for 57.3 percent of the total Q1 GDP.

Demand continued to rise, contributing 65.1 percent to Q1 economic growth, NBS data showed.

Property investment also experienced year-on-year growth of 11.8 percent during Q1. The total growth rate was higher than the 11.6 percent expansion recorded in the first two months of the year.

The total property investment in the first quarter amounted to 2.380 trillion yuan (about $354.7 billion) the NBS also stated.