China reports record 18.3% growth in Q1

April 16 (UPI) -- China's economy grew a record 18.3% during the first quarter of the year, the government said.

According to data released Friday by China's National Bureau of Statistics, its on-year first-quarter gross domestic product growth was the highest on record since the Asian nation began keeping such statistics in 1992.

"The national economy made a good start," the bureau remarked.

The growth is compared to the first quarter of 2020 when China, the original epicenter of the coronavirus pandemic, was locking down cities and shuttering factories, which caused its economy to shrink by 6.8%, its first-ever quarterly contraction on record.

The data released Friday signifies a low quarterly growth of 0.6% from the fourth quarter of last year.

The bureau said the figure generally indicates the continued momentum of a stable economic recovery from the coronavirus pandemic but worries still persist.

"We must be aware that the COVID-19 epidemic is still spreading globally and the international landscape is complicated with high uncertainties and instabilities," it said. "We should maintain the consistency, stability and sustainability of macro policies, deepen the reform and opening-up and innovation, keep the economy performing within a reasonable range and promote the quality development of the economy in a solid way."

China, the world's second-largest economy, was ground zero for the pandemic with the virus having been first detected in its central city of Wuhan. But since the winter of 2020, the country has experienced relatively low daily cases numbers.

On Thursday, Chinese health officials reported 11 new cases, 10 of which were imported and zero deaths for a total of 90,468 infections and 4,636 fatalities.