China’s economy bouncing back: 4.9 percent economic growth in last three months
China has been recovering from the pandemic, which is evident from its latest gross domestic product (GDP) data.
China saw an economic growth of 4.9 percent between July and September. BBC reported that for the first three months of 2020, China’s economy went down by 6.8 percent because of shutdown of factories and manufacturing plants.
This was the first time China’s economy contracted after it started recording quarterly figures back in 1992, writes BBC.
The growth figure in the last three months is lower than expectation of the economists, according to BBC. Economists had expected 5.2 percent growth in these three months.
The Chinese government had brought several measures in 2020 for the revival of the economy.
The central bank of China has brought supportive policies. The government also announced relief to support employment.