Record growth of 18.3% in China's GDP

New Delhi, 16 April 2021 Friday

China recorded a record GDP growth of 18.3 per cent in the March quarter, with the economy of countries around the world collapsing due to the corona, with export and domestic demand and continued support from the government to small traders.

China is the first country in the world to have a lockdown, which is also due to the base effect, which has led to a sharp decline in China's GDP by 6.8 per cent in the January-March 2020 quarter.

The economy of other parts of the world, including India, is currently in a deep recession due to the Koro crisis, which saw a record GDP decline of 23.9 per cent in June last year. The Indian economy has recovered, but GDP has grown by only 0.4 per cent in the December 2020 quarter, which is surprising given China's growth.

The main reason for China's growth is the increase in exports, with other countries in the world where the economy has started to open up and export its products in Chinese factories, with domestic retail sales growing by a record 34.2 per cent in the March 2021 quarter.