China GDP Records a Growth by 18.3%
According to official reports, China’s economy grew at a record-breaking rate in the first quarter of this year. However, China continued its quick recovery from the Covid-19 pandemic losses of the previous year.
The 18.3% surge in gross domestic product (GDP) growth was among the quickest since quarterly records began three decades ago; nonetheless, it followed a record-setting drop in the year 2020 during the height of the pandemic.
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China’s vital industry is resuming its regular pace, although March retail sales in the first quarter of 2021 have increased significantly, according to the data. Retail sales have increased by 33.9% throughout this time period.
Moreover, the increase in industrial output for the quarter was smaller than the expected 24.5%.
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