CHINA-ECONOMY: CHINA'S ECONOMY REGISTERS GROWTH
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Caixin reported (July 17) that China’s economy grew 3.2% year-on-year in the second quarter this year, returning to growth after a record 6.8% contraction in the first quarter, official data (link in Chinese) showed on July 16, as the world’s second-largest economy recovered from the Covid-19 pandemic. A Caixin survey showed also that the second-quarter GDP growth rate was higher than the median estimate of 2.9% expansion of economists. In the first half of the year, China’s GDP declined 1.6% year-on-year. The National Bureau of Statistics (NBS) said in a statement (July 16) said “In the first half of the year, China’s economy gradually overcame the adverse impact of the epidemic. The economic operation has returned to growth and steadily recovered.”
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