China's GDP Growth Beats Expectations Despite Geopolitical Tensions

China’s economy expanded by 5% in the first quarter, exceeding expectations despite ongoing geopolitical headwinds. In a strategic move to bolster economic security, Beijing has announced plans to expand its oil stockpiles to enhance resilience against global supply shocks and emergency situations. The vice chairman of the National Development and Reform Commission (NDRC) stated that China is already relatively insulated against energy disruptions, though the government will continue to diversify energy imports. These developments coincide with reports from the Canton Fair showing that exporters are struggling with rising input costs and softening global demand. While robust GDP figures provide support for proxy currencies like the AUD and CNY, the focus has shifted toward energy security as a pillar for sustaining long-term economic stability.