China's economy recovers from COVID-19 in Q2

Source: Global Times Published: 2020/7/16 16:03:40

China's economy recovers from COVID-19 in Q2, 2020. Graphic: GT

Editor's note:

According to official data, during the first half of the year, China's economy continues to improve as the COVID-19 outbreak was controlled. Industrial production has seen a quick recovery, achieving positive growth for three consecutive months from April to June.

The GDP growth rate in the first quarter was - 6.8 percent, and 3.2 percent in the second quarter. According to the IMF's latest forecast, China's economy will grow 1 percent in 2020, and will be the only major economy in the world to achieve positive growth.

Consumption, a major driving force of economic growth, has revived as the year-on-year decline in retail sales narrowed. Foreign trade and investment also showed recovery trends.

Posted in: ECONOMY

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