China's economy beat expectations with 5.3% GDP growth in the first quarter of 2024 as the country redirects investment toward infrastructure and tech manufacturing.
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00:00China's economy is beating expectations thanks to solid growth in high-tech manufacturing.
00:07China's Statistics Bureau announced GDP growth of 5.3% for the first quarter, comfortably
00:13meeting the country's 5% growth target. The results also surpassed analysts' predictions.
00:18China has been trying to sustain growth amid a property crisis by redirecting spending
00:23toward infrastructure and high-tech manufacturing. The production of 3D printing equipment, electric
00:29vehicle charging stations and electronic components all surged by about 40% from a
00:34year earlier.