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China's Q1 economy robust, higher rate than expected

TOKYO, April 1 (KUNA) -- China's economy welcomed a robust start in the first quarter of this year, the Bank of China reported on Monday forecasting a year-on-year gross domestic product (GDP) growth of about 4.8 percent, according to state-run Xinhua News Agency.
The global demand is warming up and international trade sentiment is on the rise, which contributes to the rebound in China's export growth, the report said.
The intrinsic growth momentum of the economy has been strengthened, as consumption increased, manufacturing investment has accelerated, production has been steadily recovering, and the trend of industrial upgrading and transformation is evident.
The report also mentioned that China's GDP growth for the second quarter will be around 5.1 percent.
Fiscal policy is set to significantly increase its support, utilizing a comprehensive range of policy tools to help maintain a high growth rate in infrastructure investment, the report added. (end) mk.dss