The economy of China in the first quarter increased by 6.8%, exceeding the expected growth of 6.7%. This was facilitated by reliable investments in real estate and sustainable consumer demand, as well as growth in construction and industry. According to the National Bureau of Statistics, growth in the construction sector and production in the first quarter was 6.3%, compared with the rise of 5.7% in the previous quarter. Based on data from the statistical office, Reuters calculated that China's construction and production in the first quarter amounted to 39% of China's GDP. The share of the services sector accounted for 57% of the production in China. Real estate grew by 4.9%. The growth of retail and wholesale sectors was 6.8%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
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