China's economy grows remarkably in Covid rebound

According to details, the Gross Domestic Product (GDP) expanded by 18.3% in post-coronavirus comeback. The jump is said to be the highest since Beijing started keeping quarterly records in 1992.

Last year in the first quarter, China's economy shrank to 6.8% due to nationwide lockdowns as a result of coronavirus outbreak in country. Whole markets of the country were shut down in order to contain the curb of Covid-19, which had originated from the Chinese city of Wuhan.

Referring to the growth in economy, the China's National Bureau of Statistics, which released the first quarter data said that the national economy made a good start.

"We must be aware that the Covid-19 epidemic is still spreading globally and the international landscape is complicated with high uncertainties and instabilities,” China's National Bureau of Statistics added.

Several other key figures related to China’s economy were released and showed continuing rebound. It is being said that the numbers and data seems to be remarkably strong as they are compared against extremely weak numbers from last year.

Industrial output for March also increased 14.1% over a year ago, while retail sales surged to 34.2%.

"Promisingly, the monthly indicators suggest that industrial production, consumption and investment all gained pace in March on a sequential basis, following the weakness in the first two months," said Louis Kuijs, head of Asia economics at research and consultancy firm Oxford Economics.

Experts are of the viewpoint that the country’s economy has recovered steadily due to strict coronavirus Standard Operating Procedures (SOPs) and emergency relief for businesses.

The country has so far recorded 90,468 cases and 4,636 deaths due to coronavirus so far.