This puts China on track to achieve its growth target of around 5% as revealed by Premier Li Keqiang during the Two Sessions in March<\/a>. Nevertheless, the National Bureau of Statistics acknowledged that the \u201cexternal environment is becoming more complex\u201d, posing a threat to stable economic growth. Last year, the Chinese economy grew 5.2%.<\/p>\n Some analysts have attributed to the Q1 growth to industry, with industrial production up 6.1% compared to a year ago, boosted by strong growth in high-tech manufacturing for products such as electric vehicle (EV) charging stations and batteries<\/a>. Chinese automakers have stepped up expansions into new overseas markets, with BYD<\/a> alone exporting over 240,000 cars in 2023, according to Reuters<\/a>.<\/p>\n