China records 5% GDP growth in first quarter, on track for annual target

China’s economy grew 5 per cent year on year in the first quarter of 2026, putting Beijing on track to meet its annual growth target even as the US-Israeli war on Iran continues to cloud the global economic outlook. The closely watched gross domestic product growth figure, released by the National Bureau of Statistics (NBS) on Thursday, beat the 4.86 per cent forecast by economists polled by financial data provider Wind. It marked an acceleration from the 4.5 per cent recorded in the last three...