China's GDP hits record growth but post-Covid recovery seen losing steam

A man walks past the headquarters of the PBOC, the central bank, in Beijing

BEIJING: China's economic recovery quickened sharply in the first quarter from last year's deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller firms.

But the brisk expansion, heavily skewed by the plunge in activity a year earlier, is expected to moderate later this year as the government turns its attention to reining in financial risks in overheating parts of the economy.