• ASSO
• 2021-04-17
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China's economy 2021

China's economy has bounced back after last year's deep coronavirus slump,  propelled by stronger demand at home and abroad and continued government support for smaller firms.

"The upshot is that with the economy already above its pre-virus trend and policy support being withdrawn, China's post-COVID rebound is levelling off," said Julian Evans-Pritchard, senior China economist at Capital Economics.China's economy has bounced back after last year's deep coronavirus slump,  propelled by stronger demand at home and abroad and continued government support for smaller firms.

But 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.

Gross domestic product (GDP) jumped 18.3 per cent in the first quarter of 2021 compared to a year earlier, official data showed on Friday.

That was the fastest growth since quarterly records began in 1992 and was up from 6.5 per cent in the fourth quarter last year.

"The upshot is that with the economy already above its pre-virus trend and policy support being withdrawn, China's post-COVID rebound is levelling off," said Julian Evans-Pritchard, senior China economist at Capital Economics.

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