China’s 2020 GDP grows 2.3% despite COVID
by ChemOrbis Editorial Team - content@chemorbis.com
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.
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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