July 6, 2020, 10:57


China’s GDP Grew By 6.4% Year-on-Year in 1st Quarter of 2019

China’s GDP Grew By 6.4% Year-on-Year in 1st Quarter of 2019

BEIJING (Sputnik) – China’s economy expanded by 6.4 percent year-on-year in the first quarter of 2019, the National Bureau of Statistics said in a statement on Wednesday.

“According to preliminary estimates, in the first quarter of 2019, China’s GDP growth year-on-year amounted to 21.34 trillion yuan [$3.2 billion], year-on-year growth [stood] at 6.4 percent,” the statement read.

Previously, the Chinese social and economic development plan released on Tuesday revealed that China’s gross domestic product growth was expected to decelerate to 6-6.5 percent this year from 6.6 percent in 2018.

READ MORE: China Touts More Reforms, Sustainable GDP Growth in 2019

Last year, China’s economy grew by 6.6 percent, the lowest pace since 1990s. Chinese authorities planned the 2018 budget with a deficit of 2.38 trillion yuan or about 2.6 percent of GDP.

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