China's Q1 GDP better than forecast but Covid lockdowns seen hitting April

CHINA'S economy slowed in March as consumption, real estate and exports were hit hard, taking the shine off faster-than-expected first-quarter growth numbers and worsening an outlook already weakened by Covid-19 curbs and the Ukraine war.

The biggest near-term challenge for Beijing is the tough new coronavirus rules at a time of heightened geopolitical risks, which have intensified supply and commodity cost pressures, boosting global inflation and forcing Chinese authorities to walk a tight rope as they try to stimulate growth without endangering price stability.

Gross domestic product (GDP) expanded by 4.8 per cent in the first quarter from a year earlier, data from the National Bureau of Statistics showed on Monday (Apr 18), beating analysts' expectations for a 4.4 per cent gain and picking up from 4.0 per cent in the fourth quarter.