Breaking News! China’s GDP Grows 18.3% in 1Q21 from Strong Domestic and Foreign Demands

China‘s economy grew 18.3% year on year in the first quarter of 2021, as strong domestic and foreign demands power recovery from a low base in early 2020 when COVID-19 broke out in China.

 

China’s National Bureau of Statistics said Friday that its economy recorded the sharpest quarterly growth on record in the first three months of 2021 by expanding 18.3%, compared to the same period of last year when the economy plunged 6.8% due to the coronavirus outbreak.

 

China has 11 new coronavirus cases on April 16, 2021, being the first country to show significant recovery from the outbreak.