The Chinese economy advanced 18.3 percent year-on-year in the March quarter 2021, accelerating sharply from a 6.5 percent growth in the fourth quarter and compared with market consensus of 19 percent. This was the strongest pace of expansion since the series began in 1992, boosted by strengthening domestic and global demand, strict virus containment measures, and continued fiscal and monetary support. The latest reading reflected a low comparison base in 2020 when activity plunged due to the COVID-19 shocks. For 2021, China expects the economy to grow by more than 6%. However, the services sector and smaller firms still faced challenges, while consumer inflation was likely to remain moderate, National Bureau of Statistics spokeswoman Liu Aihua said. In 2020, the country's GDP expanded 2.3%, the slowest pace in more than four decades. source: National Bureau of Statistics of China