China's Economy Grew by 18.3% in the First Quarter of 2021

Economics & Macro

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Andrea Lidwina 17/04/2021 09:30 WIB

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China's economy grew by 18.3% in the first quarter of 2021 compared to the same period the previous year. This is the highest growth rate since economic growth data began being published in 1993.

China's Year-on-Year (YoY) Economic Growth

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China's Economy Grew by 18.3% in the First Quarter of 2021

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China's Year-on-Year (YoY) Economic Growth

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China's economy grew by 18.3% in Q1 2021 compared to the same period the previous year. This is the highest growth rate since data on the country's economic growth began to be published in 1993.

According to the *South China Morning Post*, this economic growth is slightly lower than the 18.5% projection by Bloomberg analysts. However, China still managed to recover its economy, which contracted in Q1 2020 due to the Covid-19 pandemic.

The Chinese government aims for economic growth of over 6% throughout 2021. Analysts believe this target will be easily achieved, and could even exceed 8%.

Editor : Dimas Jarot Bayu

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."