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Covid-19-tested Chinese economy to continue propping up global recovery

Workers clean up signboards outside a retail center in Wuhan in central China s Hubei province. China eked out 2.3% economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with disease flare-ups. - AP BEIJING, Jan 19 (Xinhua): With gross domestic product (GDP) growing by 2.3 per cent, surpassing the milestone of 100 trillion yuan (US$15.42 trillion), China s economic data in 2020 released Monday attests to the resilience and vitality of the world s second largest economy. As the world s only major economy to post positive growth in the pandemic-shadowed year 2020, China s better-than-expected economic performance represents a major victory in the global fight against the pathogen, pumping a dose of stimulants into the global economy struggling to recover from COVID-19.

World Insights: COVID-19-tested Chinese economy to continue propping up global recovery - China News

2021-01-19 08:05:26 GMT2021-01-19 16:05:26(Beijing Time) Xinhua English BEIJING, Jan. 19 (Xinhua) With gross domestic product (GDP) growing by 2.3 percent, surpassing the milestone of 100 trillion yuan (15.42 trillion U.S. dollars), China s economic data in 2020 released Monday attests to the resilience and vitality of the world s second largest economy. As the world s only major economy to post positive growth in the pandemic-shadowed year 2020, China s better-than-expected economic performance represents a major victory in the global fight against the pathogen, pumping a dose of stimulants into the global economy struggling to recover from COVID-19. ANOTHER HUGE STEP With a stunning 6.5-percent growth in the fourth quarter (Q4), China s economy expanded 2.3 percent in 2020, reaching 101.6 trillion yuan (15.66 trillion dollars), according to data from the country s National Bureau of Statistics (NBS).

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