China's GDP grew 4.8% in Q1 amid Covid-19 surge, missed 5.5% target

The current surge of Omicron virus in China which is sending one city after another into prolonged lockdowns was largely expected to have an adverse impact on the economy

China's economy grew at 4.8 per cent in the first quarter, falling below the 5.5 per cent target set for this year by the ruling Communist Party, amidst a surge in COVID-19 cases, which prompted top business hubs like Shanghai to enforce prolonged lockdowns.

The country's gross domestic product grew 4.8 per cent year on year during January to March, picking up...read more

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