Catenaa, Wednesday, April 16, 2025– China has recorded an unexpectedly 5.4% GDP growth in the first quarter before the US trade tariffs took effect, official data showed on Wednesday.
The National Bureau of Statistics (NBS) said, China’s economy grew by 5.4% in the first quarter, beating estimates of 5.1%, continuing the export driven growth seen in the last quarter.
“The national economy had a steady and good start, continuing the upward trend,” Deputy Director of the NBS, Sheng Laiyun, told reporters. “However, we must also see that the current external environment is becoming more complex and severe, and the effective domestic demand growth momentum is insufficient.”
The data announced by the NBS covers growth in the first quarter, during which US President Donald Trump imposed two rounds of tariffs totaling 20% on China related to fentanyl.
The figures do not include the impact of Trump’s additional “reciprocal” tariffs on Chinese imports, which took effect in April. The overall tariffs on China now exceed a staggering 145%.
Sheng said China opposes the US tariff barriers and “trade bullying.” While the tariffs will bring “certain pressure” to bear on the Chinese economy, they “cannot change the general trend of China’s continued long-term economic improvement,” he said.
“China’s economic foundation is stable, resilient and has great potential, so we have the courage, ability and confidence to cope with external challenges and achieve the established development goals,” Sheng added.
Last month, Beijing set an ambitious target of “around 5%” growth for this year, in a defiant show of confidence in its export-driven economy. However, economists believe it will be tough to meet this target.
This is in part because export growth has been particularly buoyant since the waning months of 2024, when overseas companies increased their orders in anticipation of tariffs to be imposed by Trump.
