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China's GDP Grew By 6.4% Year-on-Year in 1st Quarter of 2019

© AFP 2023 / FRED DUFOUR Chinese 100 yuan notes
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BEIJING (Sputnik) - China's economy expanded by 6.4 percent year-on-year in the first quarter of 2019, the National Bureau of Statistics said in a statement on Wednesday.

"According to preliminary estimates, in the first quarter of 2019, China's GDP growth year-on-year amounted to 21.34 trillion yuan [$3.2 billion], year-on-year growth [stood] at 6.4 percent," the statement read.

An investor checks stock market prices at a securities firm in Fuyang, in eastern China's Anhui province - Sputnik International
China’s GDP Growth in 2018 Drops to Lowest Level Since 1990
Previously, the Chinese social and economic development plan released on Tuesday revealed that China's gross domestic product growth was expected to decelerate to 6-6.5 percent this year from 6.6 percent in 2018.

READ MORE: China Touts More Reforms, Sustainable GDP Growth in 2019

Last year, China's economy grew by 6.6 percent, the lowest pace since 1990s. Chinese authorities planned the 2018 budget with a deficit of 2.38 trillion yuan or about 2.6 percent of GDP.

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