China's economy grows 18.3% in Q1 of 2021

April 25, 2023

China's economy grows at a record 18.3% in Q1 of 2021, as the country bounces back from COVID-19 pandemic. China's economy grows at a record 18.3% in Q1 of 2021, as the country bounces back from COVID-19 pandemic.

China's economy grew a record 18.3% in the first quarter of 2021 compared with a year earlier, as the country rebounded from the sharp contraction caused by the initial COVID-19 outbreak. The figure was flattered by comparison with the depressed early-2020 base.

Analysts noted that industrial output and exports led the recovery, while consumer spending lagged. Officials cautioned that the pace would moderate as the low base effect faded.