• Business News
  • Shows
    • Daily Show2+2=5Take it EasyRed AlertFormula GuruMoney GyanMoney CentralMoney timeJhatpat
    • Weekly ShowMoney ComicsEconomicomRealty CheckSmile and payMoney TalesSpend WiseCompanynama
  • Insurance
  • Savings
  • Loan
  • Stocks
  • Mutual Funds
  • Real Estate
  • Crypto
  • Tax
    • हिन्दी
    • తెలుగు
    • मराठी
    • বাংলা
    • ગુજરાતી
    • ಕನ್ನಡ
  • Close
  • Daily Show
    • 2+2=5
    • Take it Easy
    • Red Alert
    • Formula Guru
    • Money Gyan
    • Money Central
    • Money time
    • Jhatpat
  • Weekly Show
    • Money Comics
    • Economicom
    • Realty Check
    • Smile and pay
    • Money Tales
    • Spend Wise
    • Companynama
  • Insurance
  • Savings
  • Loan
  • Crypto
  • Stocks
  • Mutual Funds
  • Real Estate
  • Tax
  • Exclusive
  • Home » News » Exclusive » China records 18.3% GDP growth in Jan-Mar, 2.97 million new jobs created

China records 18.3% GDP growth in Jan-Mar, 2.97 million new jobs created

This is the highest quarterly growth rate since China first began publishing GDP data in 1993

  • Press Trust of India
  • Publish Date - April 16, 2021 / 04:40 PM IST
China records 18.3% GDP growth in Jan-Mar, 2.97 million new jobs created

Beijing: China’s GDP jumped a record 18.3% in the first quarter of 2021, riding on strong domestic and foreign demand and aided by recovery from a low base in early 2020 when COVID-19 stalled the world’s second-largest economy, according to statistics released on Friday.

The gross domestic product (GDP) reached 24.93 trillion yuan (about $3.82 trillion) in Q1, data released by the National Bureau of Statistics (NBS) said.

This is the highest quarterly growth rate since China first began publishing GDP data in 1993.

The double-digit growth puts the average Q1 growth of 2020 and 2021 at 5% from the 2019 level, state-run Xinhua news agency reported.

In the first three months, China saw a steady industrial production rebound, improvement in market sales, recovery in fixed-asset investment, and noticeable momentum in foreign trade of goods, it said.

China’s economy, which was the first to be hit by the coronavirus pandemic and early to recover from its impact, grew 2.3% in 2020, registering the lowest annual growth rate in 45 years.

The GDP of the world’s second-largest economy grew by 2.3% expanding to $15.42 trillion in 2020, according to the data released by the NBS said.

In the local currency, the GDP exceeded the 100 trillion yuan ($15.42 trillion) threshold to 101.5986 trillion yuan.

Early this month, the IMF increased China’s GDP projection to 8.4% for this year, a 10-year high but cautioned that the growth is unbalanced and private consumption has not recovered as fast.

The IMF projection is higher than the over six per cent target fixed by the Chinese government for this year.
In its World Economic Outlook, the IMF also cautioned Beijing to address its high corporate debt levels resulting from the easy monetary policy put in place during the coronavirus pandemic.

It also said China’s surveyed urban unemployment rate stood at 5.3 per cent in March, 0.6 percentage points lower than the same period last year.

A total of 2.97 million new urban jobs were created in the first quarter, the NBS said.

Investment by the state sector went up 25.3 per cent during the January-March period, while private-sector investment rose 26 per cent.

Download Money9 App for the latest updates on Personal Finance.

follow us

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Youtube
  • Instagram

also read

  • Nitin Gadkari proposes star ratings for vehicles

    Nitin Gadkari proposes star ratings for vehicles

  • Fintech rules which RBI changed recently

    Fintech rules which RBI changed recently

Read more news on

  • China
  • Coronavirus
  • GDP
  • IMF
  • US

Latest Video

SEE MORE
Nitin Gadkari proposes star ratings for vehicles

Nitin Gadkari proposes star ratings for vehicles

Updated: June 30, 2022
Fintech rules which RBI changed recently

Fintech rules which RBI changed recently

Updated: June 29, 2022
What is target price for Nifty and Sensex?

What is target price for Nifty and Sensex?

Updated: June 29, 2022
Why wheat flour prices increased after wheat export ban?

Why wheat flour prices increased after wheat export ban?

Updated: June 29, 2022
Is Petrol-Diesel price increase again on the cards?

Is Petrol-Diesel price increase again on the cards?

Updated: June 23, 2022
Why are edible oil prices falling?

Why are edible oil prices falling?

Updated: June 23, 2022
Why popular AMC stocks are down?

Why popular AMC stocks are down?

Updated: June 22, 2022
Why are car, two wheeler prices not falling?

Why are car, two wheeler prices not falling?

Updated: June 21, 2022
Open in App

Related

  • How Geopolitics is Impacting Investment?

    How Geopolitics is Impacting Investment?

  • Is GDP figure for Q4 FY22 really that pleasing?

    Is GDP figure for Q4 FY22 really that pleasing?

  • Markets and what to expect in 2022

    Markets and what to expect in 2022

  • Fitch cuts India’s growth GDP forecast for 2021-22 to 8.4%

    Fitch cuts India’s growth GDP forecast for 2021-22 to 8.4%

  • RBI bats for functional autonomy for local bodies

    RBI bats for functional autonomy for local bodies

  • GDP growth in Q2 slows to 8.4%

    GDP growth in Q2 slows to 8.4%

Videos

  • RBI hikes Repo Rate, should you invest in banking stocks?
    Stocks

    RBI hikes Repo Rate, should you invest in banking stocks?

  • Which is cheapest among Airtel, Tata Play, Dish TV, etc?
    Budget

    Which is cheapest among Airtel, Tata Play, Dish TV, etc?

  • How to save capital gains tax on stocks and mutual funds?
    Tax

    How to save capital gains tax on stocks and mutual funds?

  • What is assured return scheme in real estate?
    Real Estate

    What is assured return scheme in real estate?

  • Hero MotoCorp drives in new Passion ‘XTec’
    Exclusive

    Hero MotoCorp drives in new Passion ‘XTec’

  • TV9 Sites

  • TV9 Hindi
  • TV9Telugu.com
  • TV9 Marathi
  • TV9 Gujarati
  • TV9 Kannada
  • TV9 Bangla
  • News9 Live
  • Know this india
  • Money9 Sites

  • Money9 Hindi
  • Money9 English
  • Money9 Marathi
  • Money9 Telugu
  • Money9 Gujarati
  • Money9 Kannada
  • Money9 Bangla
  • Topics

  • Insurance
  • Savings
  • Loan
  • Stocks
  • Mutual Funds
  • Real Estate
  • Tax
  • Crypto
  • Exclusive
  • Daily Shows

  • 2+2=5
  • Take it Easy
  • Red Alert
  • Formula Guru
  • Money Gyan
  • Money Central
  • Jhatpat
  • Money time
  • Weekly Shows

  • Money Comics
  • Economicom
  • Realty Check
  • Smile and pay
  • Money Tales
  • Companynama
  • Spend Wise
  • Follow us

  • FaceBook
  • Twitter
  • Youtube
  • Instagram
  • Linkedin
  • Download App

  • Andorid
  • ios
  • Contact Us
  • About Us
  • Advertise With Us
  • Privacy & Cookies Notice
  • Complaint Redressal
  • Copyright © 2022 Money9. All rights reserved.