China's economy grows faster than expected despite Iran war

China's economy grew faster than expected in the first three months of the year, even as countries around the world feel the impact of the US-Israel war with Iran.Gross domestic product (GDP) rose by 5% in the period, compared to a year earlier, according to official data. Economists had expected the figure to come in at around 4.8%.That came despite the conflict in the Middle East, which started on 28 February, severely disrupting global energy supplies, with Asian countries hit particularly hard. It also marks the first release of official GDP figures since Beijing cut its annual economic growth target last month to a range of 4.5%-5%, its lowest expansion goal since 1991.The rebound from a weaker expansion of 4.5% in the previous quarter was driven by manufacturing, while the world's second largest economy continues to be weighed down by falling property investment.Cars and other exports were a "major bright spot" in the data, said Kyle Chan, an analyst from the Brookings Institution.The Iran-war" class="entity-link entity-event" data-entity-id="38748" data-entity-type="event">Iran war's full effects are yet to be seen, Chan said, adding that next quarter's GDP figure is likely to be weaker due to trade disruptions caused by the conflict.China's latest GDP target and economic objectives were announced in March under its latest Five Year Plan. Beijing also pledged to invest heavily in innovation, high-tech industries and efforts to boost domestic spending.