In the first quarter of 2025, the GDP of the United States grew by 2.0% year-on-year (see the figure below). Do not be misled by some media reports that claim the GDP of the United States decreased by 0.3% in the first quarter, as this data reflects the annualized quarterly rate, which is fundamentally different from China's year-on-year growth rate. Meanwhile, China's GDP in the first quarter of 2025 grew by 5.4% year-on-year. This means that China's GDP growth rate in the first quarter is 2.6 times that of the United States.
