Analysts say ample oil reserves, heavy use of coal and high adoption of solar, wind and electric vehicles have given China better chances of weathering the closure of the Strait of Hormuz than many European or Asian economies.
But China is not immune to the fallout from the conflict.
Soaring energy and raw materials prices threaten to drive up production costs and squeeze already thin margins at factories that employ hundreds of millions of people. And the economic hit taken by other countries could slow demand for Chinese exports.
Shipments grew just 2.5 per cent last month, slowing sharply from 21.8 per cent in the January to February period.
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