Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road
Economy

China's economy expands 18.3 pct in Q1 from virus-induced low base

April 16, 2021


Abstract : China's economy grew 18.3 percent year on year in the first quarter of 2021, as strong domestic and foreign demands powered recovery from a low base in early 2020 when COVID-19 stalled the world's second largest economy.

Photo taken on Nov. 4, 2020 shows a light show at the Lujiazui area in Shanghai, east China. (Xinhua/Zhang Haofu)

BEIJING, April 16 (Xinhua) -- China's economy grew 18.3 percent year on year in the first quarter of 2021, as strong domestic and foreign demands powered recovery from a low base in early 2020 when COVID-19 stalled the world's second largest economy.

The gross domestic product (GDP) reached 24.93 trillion yuan (about 3.82 trillion U.S. dollars) in Q1, data from the National Bureau of Statistics (NBS) showed Friday.

The double-digit growth puts the average Q1 growth of 2020 and 2021 at 5 percent from the 2019 level.

In the first three months, China saw a steady industrial production rebound, improvement in market sales, recovery in fixed-asset investment, and noticeable momentum in foreign trade of goods, according to the NBS.

The Chinese economy registered a 6.8-percent contraction in the Q1 of 2020 due to the novel coronavirus. Thanks to resolute and effective virus control, the global growth engine regained its footing with a "V-shaped" comeback to attain three consecutive quarters of rebound last year (3.2 percent in Q2, 4.9 percent in Q3 and 6.5 percent in Q4). Enditem

Scan the QR code and push it to your mobile phone

Keyword: China economy

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial