The Chinese economy continued its sprint out of the gates in the first quarter 0f 2021, growing by an astounding 18.3% after rocketing up 40% in the 4th quarter of 2020, Bloomberg reports.
Consumer spending in China increased by 34.2%. Industrial output rose 14% in March alone. The Chinese government set an overall goal for economic growth in 2021 at 6%.
While one can be skeptical of information coming from the Chinese government, it reports that there have been no significant increase in coronavirus cases since last spring, after the government put large-scale lockdowns and quarantine orders in place across the country. It continues to enforce quarantines in areas where outbreaks occur.