Ng Han Guan/Associated Press China's economy grew a record 18.3% in the first quarter year on year, figures showed. But analysts said the number was flattered by the so-called base effect. When looked at quarter over quarter, Chinese growth slowed to 0.6%. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. China's economy grew a massive 18.3% in the first 3 months of the year, the strongest ever quarterly year-on-year growth figures for the world's second-biggest economy, which has recovered rapidly from the coronavirus crisis.But that number doesn't tell the whole story.