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China’s first-quarter economy grows by 4.5% as recovery accelerates

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China’s gross domestic product (GDP) expanded 4.5 percent year on year in the first quarter of 2023 as economic activities gain traction, data from the National Bureau of Statistics (NBS) showed on Tuesday.

“We are seeing an accelerating recovery in all sectors with stronger momentum, including the improving domestic demand,” said Pang Ming, chief economist and director of Research at JLL Greater China.

The growth rate was higher than analysts’ expectation of 4 percent in a Reuters poll.

The market expectation has significantly improved since the start of the year, said Fu Linghui, spokesperson of the NBS. He added that the economy’s growth rate in the second quarter is expected to accelerate significantly compared to the first quarter because of the low comparison base in the same period last year.

Going forward, Pang cautioned that policy support and targeted easing are still needed to secure sustainable growth amid external uncertainties.

China’s macroeconomic policies should keep domestic demand expansion as a priority in light of generally weak external demand, said Cheng Shi, chief economist at ICBC International.

In the first quarter, the total retail sales of consumer goods rose 5.8 percent year on year. Notably in March, consumer spending surged 10.6 percent year on year, 7.1 percentage points higher than that in the first two months.

There is divergence in the recovery pace among different consumption types, said Wen Bin, chief analyst at China Minsheng Bank. Offline and get-together spending continued to pick up, while the durable goods consumption was lacking, reflecting people’s income and willingness to shop require a further boost, he added.

A recent central bank survey of depositors showed that “tourism” tops the list of the expected increase in expenditure in the second quarter.

The investment in fixed assets grew by 5.1 percent year on year in the first quarter while the total added value of large industrial enterprises grew by 3.0 percent in the same period.

China has set a GDP growth target of around 5 percent for this year. Local governments around the country are gearing up support for the economy including optimizing the business environmentstabilizing employment and promoting consumption.

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Pakistan Observes KASHMIR SOLIDARITY DAY in Abuja

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Joel Ajayi


The people of Pakistan inside the country and across the world is observing Kashmir Solidarity Day Today’s Monday express solidarity with Kashmiris in their struggle for the right to self-determination.  
Since 1990, the Nation of Pakistan observes February 5th as Kashmir Solidarity Day.

According to the statement issued by the High Commissioner of Islamic Republic of Pakistan Abuja, Nigeria H.E Mr Sohail Ahmad Khan stated that, Kashmir Solidarity Day serves as an annual reminder of the  prolonged conflict in Indian Illegally Occupied Jammu and Kashmir, where the struggle for self-determination has left an indelible mark on the lives of innocent Kashmiris. 

“Multiple UN Resolutions unambiguously declare that the final disposition of the State of Jammu and Kashmir will be made in accordance with the will of the people expressed through the democratic method of a free and impartial plebiscite conducted  under the auspices of the United Nations. 


“Numerous international, UN organizations as well as UN Special Rapporteurs have reported gross human rights violations in Jammu and Kashmir. 


“Media and press is under tremendous pressure by Indian Government especially in Indian Illegally Occupied Jammu and Kashmir which is evident from India’s  ranking of 161 out of 180 countries as per 2023 World Press Freedom.


“Jammu and Kashmir has been converted into world’s most militarized zone and the largest prison on earth. Pakistan stands firm with Kashmiri brothers and sisters and  will continue to provide unwavering diplomatic support.


“Pakistan demands that International community including United Nations and it’s relevant Human Rights Machinery, Civil Society Organizations, Media Houses and other defenders of Human  Rights to fulfill their obligations towards besieged Kashmiris by playing their part to end the rule of tyranny and oppression.”

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