China's records 18.3% GDP jump in first quarter in coronavirus rebound Pakistan Fri, Apr 16, 2021 China's economy expanded at its fastest pace on record in the first quarter, data showed Friday, in a sharp turnaround from the historic contraction caused by the coronavirus outbreak. The world's second largest economy was the only major one to grow at all in 2020, supported by strong retail spending and industrial activity as well as better-than-expected exports as the virus hit markets around the world. It marks the fastest pace since quarterly records began three decades ago, though the GDP figure of 18.3 percent is slightly below forecasts in an AFP survey of economists.