China's GDP increases to 18.3% in the first quarter

Data today showed that China's GDP rose at a record rate of 18.3% in the first quarter of this year, the fastest pace of growth since the start of quarterly registrations in 1992, compared to 6.5% in the fourth quarter of 2020.

Analysts had expected that China's GDP would grow by 19% in the first quarter of this year, and the Chinese economy recovered from a severe recession due to the coronavirus pandemic when the economy contracted by 6.8% in the first quarter of 2020. The second largest economy in the world is expected to grow by 8.6% in 2021, and China's GDP was growing by 2.3% in 2020, the weakest expansion in 44 years, and the data showed that retail sales in China rose 34.2 year-on-year. % during March .