China's financial sector has overtaken manufacturing in growth rate for the first time in years, fueled by a surge in IPO activity. This shift occurs as the broader economy posted a 5% GDP expansion in the first quarter.
- Q1 GDP growth reached 5%
- Finance sector grew 6.5% YoY, surpassing manufacturing's 6.3%
- IPO boom acted as a primary catalyst for financial growth
- Consumer-sensitive sectors showed signs of slowing expansion
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