Caixin reported (January 19) that as per official Chinese data, China’s GDP grew 2.3% in 2020 as the world’s second-largest economy managed a steady recovery from the fallout of its Covid-19 outbreak a year ago. It quoted the National Bureau of Statistics (NBS) as also saying that China’s full-year GDP came in at 101.6 trillion yuan ($15.7 trillion), the first time it surpassed 100 trillion yuan.

 

(Comment: Caixin observed too that China's annual growth rate this year was the lowest since 1976 when the Cultural Revolution wrecked the economy, but still beat the International Monetary Fund’s (IMF) projection of a 1.9% increase. The organization said it expected China's would be the only major economy to expand in 2020.)