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China’s 2020 GDP grows 2.3% despite COVID

by ChemOrbis Editorial Team -
  • 18/01/2021 (06:32)
China’s economy managed to grow 2.3% in 2020 despite the impact of COVID-19, according to the country’s National Bureau of Statistics (NBS).

The country’s GDP growth was 6% in 2019 before the onset of the pandemic.

For the fourth quarter of last year, GDP grew 6.5% on year. The country’s economic recovery was boosted by stimulus measures and low lending rates after the lockdown was lifted in April.

Meanwhile, industrial production increased by 2.8% last year - down from 5.7% growth in 2019.
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