China’s economy expanded at an annual rate of 5.4% in January, supported by strong exports before US President Donald Trump’s rapid increase in Rates on Chinese exports, the government said on Wednesday.
Analysts predict that the world’s second largest economy will slow down significantly in the coming months, as tariffs up to 145% will take effect on US imports from China.
Exports were a strong factor in China’s ability to achieve an annual growth rate of 5% in 2024 and the official target for this year remains about 5%.
Beijing returned at the US with 125% tariffs on US exports, while also emphasizing its determination to keep his own markets open for trade and investment.
In quarterly, the economy grew by 1.2% in January.
