Dhaka, April 24 -- China's economy grew at a record 18.3 per cent in the first quarter of 2021-- the fastest pace on record in gross domestic product (GDP) growth since quarterly records began in 1992. This is a major rebound following the historic contraction of the economy caused by the Covid-19 pandemic. China's economy shrank 6.8 per cent in the first quarter of 2020 following lockdowns to curb the spread of Covid-19. This growth rate outstripped the previous record GDP growth rate of 15.3 per cent in the first quarter of 1993.

Despite calamitous start in 2020, China was the only major economy to register growth albeit its weakest in decades at 2.3 per cent. This was the country's weakest expansion in little more than four decades, b...