First-quarter figures set record amid stable policy

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China posted record economic growth in the first quarter, signaling that recovering consumer spending may soon help the world's second-largest economy return to pre-COVID-19 growth conditions, officials and experts said on Friday. The foundation of the recovery, however, is not yet solid with lingering distress facing some businesses, thus the "no sharp turn" macroeconomic policy stance will remain intact, they said. China's GDP came in at 24.93 trillion yuan ($3.8 trillion) in the first three months of the year, surging 18.3 percent year-on-year, the highest quarterly growth since the National Bureau of Statistics began keeping records in 1993, the NBS said on Friday. The 18.3 percent growth marked a jump from 6.5 percent in the last quarter of 2020, thanks to the low comparison base last year when lockdowns suspended economic activity, the bureau said. First-quarter GDP grew 0.6 ………………………………