Insta
China's GDP Grows By 2.3 Per Cent In 2020; Exports Grow By 3.2 Per Cent Despite Covid-19 Pandemic
Chinese President Xi Jinping.
China's GDP recorded a 2.3 per cent growth in the COVID-19 hit 2020, with the last three months of the year recording a growth of 6.5 per cent over the year-ago period, reports Economic Times.
Following the first three months of 2020 in which China recorded a contraction of 6.8 per cent, the nation's GDP rebounded in the April-July period to record 3.2 per cent growth, which made it the only and first major nation to report growth in the quarter.
The growth was aided by global demand for masks and medical supplies. Also, China managed to grow its exports by 3.6 per cent over 2019, with its exporters gaining share from foreign competitors who are still battling restrictions in other nations which continue to deal with COVID-19 menace.
As per the estimates from the International Monetary Fund (IMF) and other forecasters, China's GDP growth in 2021 could further rise to more than eight per cent.
However, it should be noted that over the past weeks, China has once again imposed travel controls and restrictions in certain parts after an upsurge of fresh COVID-19 cases even though most of the nation remains unaffected.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
