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Official data: The Chinese economy is growing at a record pace

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Official data revealed, today, Friday, that China's economy recovered at a strong pace in the first quarter of 2021 from a decline caused by the Corona virus earlier in 2020, as it received support from stronger demand from home and abroad and continued government support for companies.

According to the data, China's GDP jumped at a record rate of 18.3% in the first quarter of 2021 compared with the same period a year ago.

The increase is the strongest since at least 1992, when official quarterly records began to be kept. The rise was supported by strict measures to contain the virus and an emergency financial rescue for companies.

The Chinese economy is recovering after a 6.8% decline in the first three months of 2020, when the Covid-19 outbreak shifted in the city and And Han Central China into a full-force epidemic.

The boost in exports is driving the recovery as Chinese factories rush to fulfill foreign orders, along with a steady improvement in consumption that comes despite sporadic COVID-19 cases in some cities.

The second largest economy in the world is expected to grow by 8.6% in 2021, after an increase of 2.3% last year, which is the weakest in 44 years, but it has made China the only major economy that avoided recording a contraction during the pandemic.
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Largest quarterly jump for the Chinese economy in 30 years

Friday - 4 Ramadan 1442 AH - April 16, 2021 AD
A woman in a spinning and weaving factory in Hangzhou, Zhenjiang Province, east China (AB)

The Chinese economy has largely surpassed the crisis caused by the "Corona" virus, and the current year began with a record growth rate, according to "German News Agency".
The world's second-largest economy grew by 18.3 percent during the first three months of 2021, compared to the first quarter of last year, according to the Chinese Statistical Office in Beijing on Friday.
This is the biggest jump since China began conducting its quarterly assessments nearly 30 years ago.
The unusually strong growth was due to the stagnation of the Chinese economy last year, when the country witnessed an almost complete closure for several weeks in an attempt to stop the spread of the Corona virus.
Since the lifting of strict measures to contain the pandemic, the Chinese economy has embarked on the road to recovery.
The International Monetary Fund estimates that China could see further growth of 8.1 percent this year.
However, the Chinese government took a more cautious approach and set its official growth target, which it announced at its last annual parliamentary session, at "more than 6 percent."
Strong foreign trade has given the Chinese economy a boost recently, and Chinese factories have been busy producing goods, including corona test kits and protective masks, for export to all parts of the world.
New portable computers and home office equipment are often imported from China.
It is noteworthy that during the global financial crisis in 2008, China helped revive the global economy, and its recovery from the Coronavirus crisis has a great impact now, as German car manufacturers and many other companies operating in the Chinese market recorded good profits in the country. Recently.

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