The Chinese economy advanced 18.3% yoy in Q1, accelerating sharply from a 6.5% growth in Q4 and compared with market consensus of 19%. This was the strongest pace of expansion since data first began being published in 1992, boosted by stronger demand at home and abroad, 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.
