China's Economy Grows 1.6% in First Quarter, Driven by Manufacturing and Exports

• China's economy grew 1.6% in Q1 2024 compared to the previous quarter, equivalent to 6.6% annual growth • Growth was powered by increased manufacturing and exports to counteract housing slowdown • China built many new factories to export more solar panels, electric cars, and other products • Other countries worry rising Chinese exports may flood economies and hurt domestic industries • China targeted 5% annual growth in 2024 to bring down unemployment and high debt levels