China: Economy posts record recovery
( MENAFN )According to official numbers issued on Friday, April 16, a year after the beginning of the COVID-19 pandemic, China’s financial system revealed record expansion of 18.3 percent in the first quarter of this year.
State-run Xinhua News revealed that National Bureau of Statistics (NBS) numbers for January to March revealed that China’s gross domestic product (GDP) increased 18.3 percent powered by “strong domestic and foreign demand”.
The 18.3 percent number is the highest quarterly year-on-year expansion rate since China first started issuing statistics in 1993.
The country faced a delay – a 6.8 percent reduction – throughout the same quarter in 2020 when it forced strict lockdowns in a lot of regions to stop the spread of coronavirus.
Numbers revealed that the GDP increased to USD3.82 trillion in first quarter of 2020, it increased 0.6 percent from the fourth quarter of 2020.
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