China sees economy grow in virus rebound

China is likely the world's only economic power to have reported growth in 2020, as it emerges from the COVID-19 pandemic. Other countries, like the U.S., continue to struggle with rising infections.

By

World News

January 19, 2021 - 9:44 AM

BEIJING (AP) — China eked out 2.3% economic growth in 2020, likely becoming the world’s only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with rising infections.

Growth in the three months ending in December rose to 6.5% over a year earlier as consumers returned to shopping malls, restaurants and cinemas, official data showed Monday. That was up from the previous quarter’s 4.9% and stronger than many forecasters expected.

In early 2020, activity contracted by 6.8% in the first quarter as the ruling Communist Party took the then-unprecedented step of shutting down most of its economy to fight the virus. The following quarter, China became the first major country to grow again with a 3.2% expansion after the party declared victory over the virus in March and allowed factories, shops and offices to reopen.

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