In a year like no other, Chinese economy emerges stronger from unprecedented virus test (Xinhua) 08:42, December 14, 2020 Refraining from hastily resorting to massive stimulus measures, China adopted a clear and consistent approach: containing the virus first with stringent public health measures and then rolling out monetary and fiscal policies to revive economic activities. China set virus containment as a top policy priority at the beginning of the outbreak, concentrating medical resources and exercising strong epidemic control despite massive economic costs. The country s fast recovery rests partly with the extraordinary macroeconomic policy mix of raising the deficit, tax relief, cuts in lending rates and banks reserve requirements.
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Chinese-made export-bound vehicles wait to be shipped at the Lianyungang Port in Jiangsu province on Dec 7. China s foreign trade expanded 7.8 per cent year-on-year in November, with exports jumping 14.9 per cent and imports declining 0.8 per cent on a yearly basis.- China Daily
HONG KONG (China Daily/ANN): Ever since China and 14 other countries signed the Regional Comprehensive Economic Partnership agreement on Nov 15 in Hanoi, Vietnam, Xiao Maochang, chairman of Shandong province-based textile products maker Sunvim Group, could not stop wondering which Southeast Asian markets are yet to be served by the company.
All the 10 member countries of the Association of Southeast Asian Nations, or Asean, are RCEP signatories. So are Japan, South Korea, Australia and New Zealand. Experts have called the RCEP a victory of multilateralism and free trade as the 15 nations collectively account for nearly a third of the world s GDP.
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by Xinhua Writers Jiang Tingting and Hu Wenjia
BEIJING, Dec. 13 (Xinhua) China s economy, the first jolted by COVID-19, has bounced back from epidemic fallout with resilience on effective virus control and targeted stimuli, as a pandemic depression continues to threaten the world.
With GDP growth reaching 3.2 percent and 4.9 percent in the second and third quarters, the world s second-largest economy completed the upward leg of a V-shaped recovery from virus-induced lockdowns that sent it into a rare 6.8-percent contraction in the first quarter.
In its latest Economic Outlook report, the Organization for Economic Co-operation and Development predicted that China will be the only major economy to record positive performance in 2020 with 1.8-percent growth.
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Source: Xinhua|
Editor: huaxia
Video PlayerClose Refraining from hastily resorting to massive stimulus measures, China adopted a clear and consistent approach: containing the virus first with stringent public health measures and then rolling out monetary and fiscal policies to revive economic activities. China set virus containment as a top policy priority at the beginning of the outbreak, concentrating medical resources and exercising strong epidemic control despite massive economic costs. The country s fast recovery rests partly with the extraordinary macroeconomic policy mix of raising the deficit, tax relief, cuts in lending rates and banks reserve requirements.