China economy records a record growth rate in Q1 of 2021
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| China Economy Record Growth Rate |
The agency responsible for displaying economic data in China, the National Bureau of Statistics, announced that there has been a significant increase in the rate of economic growth during the first quarter of 2021, as the rate of economic growth reached 18.3% compared to the same period in 2020.
The large increase in growth during the aforementioned period is due to the cessation of activity in the corresponding period during 2020 with the start of the spread of the "Coronavirus", which led to paralysis of economic activity.
In the same context, we find that during the same period last year 2020, the gross domestic product recorded a decline of 6.8%, which is the worst economic performance of China in 44 years.
The Chinese economy was able to achieve an increase in economic growth during 2020, which reached 2.3%, while most of the world's economies recorded a decline in growth due to the Covid-19 pandemic.
Figures on the Chinese economy
- Chinese industrial production grew in March 2021 by 14.1 percent.
- The unemployment rate in March reached 5.3% for "urban residents only".
- China aims to grow 6% this year.
- The International Monetary Fund expects an 8.4 percent increase in gross domestic product.
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