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China GDP expands by 4.8% in Q1 but COVID hit looms

Shanghai and other major cities have been hit by virus lockdowns

China's financial hub Shanghai has been locked down in the midst of the country's worst COVID-19 outbreak of the pandemic.   © Reuters

SHANGHAI -- China's gross domestic product expanded by a better-than-expected 4.8% in the first quarter from a year earlier, but widespread COVID-19 lockdowns threaten to hold back growth in the months ahead.

The data for January to March, published on Monday by the National Bureau of Statistics, was above an average forecast of 4.3% made by 30 economists polled by Nikkei and came in stronger than a 4% on-year rise in the fourth quarter.

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