Strong Economic Performance in March Could Support China’s Economy

On Thursday, a US-based research firm, China Beige Book, released its business survey, demonstrating the anticipation for 1Q24 China’s economy to end on a strong note.

According to China’s official data, retail sales, industrial production, and fixed asset investment for January and February showed a better-than-expected performance, as they were supported by the week-long Lunar New Year holiday.

Shehzad H. Qazi, chief operating officer at the China Beige Book, stated that China’s economy clearly improved in March from better industrial activity and stronger retail spending.

The survey data compiled economic views from 1,436 businesses between March 1 and 23 indicated that the world’s second largest economy poised a solid end to Q1 from larger revenue growth in March compared to February while pricing gains boosted margins.

Meanwhile, the National Bureau of Statistics is scheduled to release 1Q24 economic data on April 16.