Chinese Economy Increased By 2.3 Percent in the Corona Year 2020

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The Chinese economy grew by 2.3 percent last year, the national statistics office in Beijing reports. This makes it the only large country to leave the corona year without shrinking.

 

China’s gross domestic product increased by 6.5 percent in the fourth quarter of 2020 compared to the same period a year earlier. In the third quarter, the economy grew by 4.9 percent.

The Asian superpower is doing better than experts at Bloomberg news agency had anticipated. They forecast growth of 6.2 percent in the fourth quarter and 2.1 percent for the full year.

Economic growth in 2020 will be the slowest in the past 44 years. In 2019, the gross domestic product increased by 6.1 percent. That was also the lowest growth in decades.

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