The Chinese economy grew more than expected in 2020, even as the rest of the world is still suffering due to pandemic. The world’s second largest economy expanded 2.3 per cent in 2020 compared to 2019, according to the government statistics released on January 18. 
However, it is China’s slowest annual growth rate since 1976 when the Gross Domestic Product (GDP) shrunk 1.6 per cent during the time of the social and economic tumult.
At this time when the pandemic plunged major world economies into recession, China has come out on the top. The International Monetary Fund predicted that china’s economy will grow 1.9 per cent in 2020 while the country clearly exceeded the expectations.
According to research by the UK-based Centre for Economics and Business Research (CEBR), China will overtake the United States Economy by 2028.
#china #economy #covid19
#china #economy #covid19
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