China's economy showed better than expected growth in the first three months of 2019 easing investor concerns over a slowdown in global expansion.

The country's gross domestic product (GDP) rose by 6.4 percent in the first quarter (January to March 2019) when compared to a year earlier, according to a Bloomberg report. The growth exceeded economists' estimates.

The factory output was also higher in March, rising by 8.5 percent from a year earlier. Retail sales expanded 8.7 percent, while investment was up 6.3 percent in the year-to-date basis.

The Chinese government had rolled out pro-growth policies in 2018 that experts predict to have helped drive the consumer sentiment.

Following the results, the Shanghai Composite index rose, 10-year bond yields climbed, and currencies yuan and Australian dollar advanced.