Employees work on a battery production line at Jiangsu Yongda Power Supply Co. on March 26, 2024 in Suqian, Jiangsu province of China.
Vcg | Visual China Group | Getty Images
BEIJING — China’s economy is ending the first quarter on a “strong” note, according to a business survey published by the China Beige Book on Thursday.
“The economy clearly improved in March, thanks to better industrial activity and stronger retail spending,” said Shehzad H. Qazi, chief operating officer at the China Beige Book, a U.S.-based research firm.
China’s official data on retail sales, industrial production and fixed asset investment for January and February beat expectations across the board. Figures for the first two months of the year are typically reported together to account for the week-long Lunar New Year holiday, which follows the agrarian calendar.
The China Beige Book said it surveyed 1,436 businesses between March 1 and 23, split roughly between state-owned and non-state-owned firms.
“China Beige Book’s …