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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.

Read More: China’s Artificial Sun Sets New World Record

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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