毕马威：2024年第二季度中国经济观察报告（英文版）

China’s GDP grew 5.3% year-on-year (YoY) in Q1 2024, up from 5.2% in Q4 2023 and higher than market expectations. Driven by the implementation of equipment renewal policies and the recovery of external demand, the rebound in industrial production, manufacturing investment and exports were the main contributors to the growth of China’s economy. Looking ahead, the manufacturing PMI, a leading indicator of production, remained in the expansion zone, indicating a recovery in bu