China’s economy grew 18.3 per cent in the first quarter of 2021, but it looks like its COVID-19 rebound is levelling off

China’s economy has bounced back after 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.

Gross domestic product (GDP) jumped 18.3 per cent in the first quarter of 2021 compared to a year earlier, official data…