China GDP hits record growth
SLOWDOWN EXPECTED: Economic growth could moderate later this year as the government turns its attention to reining in financial risks, analysts said
Reuters, BEIJING
China’s economic recovery quickened sharply in the first quarter from last year’s deep COVID-19 slump, propelled by stronger demand at home and abroad, and continued government support for smaller firms.
However, the brisk expansion, heavily skewed by the plunge in activity a year earlier, is expected to moderate later this year, as the government turns its attention to reining in financial risks in overheating parts of the economy.
GDP jumped 18.3 percent in the first quarter from a year earlier, official data showed yesterday.
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