This text is translated into Russian by google automatic human level neural machine.
EastRussia is not responsible for any mistakes in the translated text. Sorry for the inconvinience.
Please refer to the text in Russian as a source.
China's GDP grew by 2021% in the first quarter of 18,3
In China, for the first quarter of 2021, GDP grew by 18,3% compared to the same period last year. According to the National Bureau of Statistics of the People's Republic of China, this is a record quarterly growth for the country since 1992.
According to "Merchant", Economists predicted such results earlier, however, in their opinion, the growth should have amounted to 18,5%. The reason for this dynamics was provided by the "low base", which was formed due to the pandemic, quarantine, mass closure of production and other enterprises. Compared to the fourth quarter of 2021, the growth was only 0,6%.
In addition, GDP growth was ensured by an increase of 34% in retail sales and 14% in industrial production. At the same time, as the stimulus programs are completed, the growth of the Chinese economy may slow down.