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न्यूज (CNY)
China Holds Benchmark Lending Rates As Expected
The People's Bank of China left its interest rates unchanged for the sixth successive session on Monday. The central bank retained its one-year loan prime rate at 3.10 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was 3.60 percent, unchanged from the previous month. The decision matched expectations.
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China Economic Growth Beats Expectations
China's economy logged stronger-than-expected growth in the first quarter as fiscal support helped to boost domestic demand but escalating trade tariff threats damps the outlook. Gross domestic product grew 5.4 percent year-on-year, data published by the National Bureau of Statistics revealed on Wednesday. This was better than economists' forecast of 5.1 percent.
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China Exports Rise Sharply; Imports Fall More Than Forecast
China's exports increased sharply in March as US importers front loaded their orders ahead of "Liberation Day" but imports declined due to weaker domestic demand, official data revealed on Monday. Exports logged an annual growth of 12.4 percent in March, the customs office reported. This was much bigger than the expected growth of 4.4 percent. Moreover, the rate far exceeded the 2.3 percent rise.
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