{"id":7518,"date":"2021-04-17T06:45:21","date_gmt":"2021-04-17T06:45:21","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=7518"},"modified":"2021-04-22T08:45:05","modified_gmt":"2021-04-22T08:45:05","slug":"chinas-economy-records-18-3-growth-in-the-first-quarter-of-2021","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/chinas-economy-records-18-3-growth-in-the-first-quarter-of-2021\/","title":{"rendered":"China\u2019s economy records 18.3% growth in the first quarter of 2021"},"content":{"rendered":"<h2 class=\"p1\"><span class=\"s1\">Newly-released figures suggest the Chinese economy is experiencing a strong post-pandemic resurgence. <\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">According to figures released by China\u2019s National Bureau of Statistics on Friday, 16 April, the Chinese economy grew 18.3% in the first quarter of 2021, the fastest growth on record. These record-breaking numbers come in comparison to the steep 6.8% slump in Q1 2020 caused by strict nationwide lockdowns in the early days of the Covid-19 pandemic. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The growth has been driven by <a href=\"https:\/\/focus.cbbc.org\/chinas-new-export-control-law-implications\/\" target=\"_blank\" rel=\"noopener\">robust exports<\/a> stimulated by the gradual recovery of the global economy, as well as government support and investment in construction and infrastructure projects. Industrial output added 24.5% in Q1, growing by 14.1% year-on-year.<\/span><\/p>\n<div style=\"clear:both; margin-top:2em; margin-bottom:2em;\"><a href=\"https:\/\/focus.cbbc.org\/five-books-on-the-chinese-economy\/\" target=\"_self\" rel=\"dofollow\" class=\"udcf96d544f1dc6cde2e7fb675a7ea7ea\"><style> .udcf96d544f1dc6cde2e7fb675a7ea7ea { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #E74C3C!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .udcf96d544f1dc6cde2e7fb675a7ea7ea:active, .udcf96d544f1dc6cde2e7fb675a7ea7ea:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .udcf96d544f1dc6cde2e7fb675a7ea7ea { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .udcf96d544f1dc6cde2e7fb675a7ea7ea .ctaText { font-weight:bold; color:#E74C3C; text-decoration:none; font-size: 16px; } .udcf96d544f1dc6cde2e7fb675a7ea7ea .postTitle { color:#000000; text-decoration: underline!important; font-size: 16px; } .udcf96d544f1dc6cde2e7fb675a7ea7ea:hover .postTitle { text-decoration: underline!important; } <\/style><div style=\"padding-left:1em; padding-right:1em;\"><span class=\"ctaText\">Read Also<\/span>&nbsp; <span class=\"postTitle\">Five books that explain the Chinese economy<\/span><\/div><\/a><\/div>\n<p class=\"p1\"><span class=\"s1\"><a href=\"https:\/\/focus.cbbc.org\/five-retail-trends-learnt-from-2020\/\" target=\"_blank\" rel=\"noopener\">Retail sales<\/a> also increased 34.2% year-on-year in March, meeting expectations. Domestic consumption is expected to play a greater role in supporting growth as the year goes on as consumers gradually start to feel more comfortable about a return to spending at pre-pandemic levels.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">On a quarterly basis, economic <a href=\"https:\/\/focus.cbbc.org\/three-areas-of-growth-we-can-expect-from-china-in-2021\/\" target=\"_blank\" rel=\"noopener\">growth<\/a> during this quarter slowed to 0.6% from 3.2% in the previous quarter. Nevertheless, the country\u2019s strong growth in the first three months of 2021 suggests that it is on track to meet its target of economic expansion of 6% or more this year as announced by Chinese Premier Li Keqiang at the National People\u2019s Congress in March. The IMF has predicted that China\u2019s growth will be around 8.5% this year.<\/span><\/p>\n<p><a href=\"\/lp-cta-gateway\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-7246 size-full\" src=\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway.png\" alt=\"launchpad gateway\" width=\"4680\" height=\"786\" srcset=\"https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway.png 4680w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-300x50.png 300w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1024x172.png 1024w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-768x129.png 768w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1536x258.png 1536w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-2048x344.png 2048w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1920x322.png 1920w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-1170x197.png 1170w, https:\/\/focus.cbbc.org\/wp-content\/uploads\/2021\/03\/lp-gateway-585x98.png 585w\" sizes=\"(max-width: 4680px) 100vw, 4680px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newly-released figures suggest the Chinese economy is experiencing a strong post-pandemic resurgence. According to figures released by China\u2019s National Bureau of Statistics on Friday, 16 April, the Chinese economy grew 18.3% in the first quarter of 2021, the fastest growth on record. These record-breaking numbers come in comparison to the steep 6.8% slump in Q1 2020 caused by strict nationwide lockdowns in the early days of the Covid-19 pandemic. The&hellip;<\/p>\n","protected":false},"author":34,"featured_media":7589,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[132],"tags":[2092,367],"class_list":["post-7518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-consumption","tag-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China\u2019s economy records 18.3% growth in the first quarter of 2021 - Focus - China Britain Business Council<\/title>\n<meta name=\"description\" content=\"New figures show the Chinese economy is experiencing a strong post-pandemic resurgence, and is on track to meet its 2021 growth target too\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/focus.cbbc.org\/chinas-economy-records-18-3-growth-in-the-first-quarter-of-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s economy records 18.3% growth in the first quarter of 2021 - 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