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2020 - 09 - 24
The Chinese economy made a relatively swift recovery after bottoming out in the first quarter of the year due to the COVID-19 pandemic, according to an article published by the European Central Bank (ECB) on Monday.China's economic activity rose from a trough of around 20 percent of normal levels in February 2020 to 90 percent in the span of just three months, ECB analysts said in the article, citing both traditional data and non-conventional high-frequency economic indicators.The article found that the manufacturing sector rebounded earlier than the services sector. While the manufacturin...
2020 - 09 - 21
Better-than-expected recovery in China and the United States, and government stimulus policy are expected to help limit the global economic contraction, said the Organization for Economic Cooperation and Development (OECD) on Wednesday.The global GDP is projected to decline 4.5 percent this year, before picking up five percent in 2021, said the OECD in its interim report. The projection marks an improvement compared with its June estimates of a six-percent-contraction this year.The OECD warned that the COVID-19 pandemic would continue to exert a substantial toll on economies and societi...
2020 - 09 - 17
China's economy continued to recover in August from the damages caused by the COVID-19 pandemic as key economic data pointed to a stabilizing trend, the National Bureau of Statistics said on Tuesday.China's industrial output expanded by 5.6 percent on a yearly basis in August, faster than the growth rate of the previous month by 0.8 percentage point. The country's retail sales returned to growth for the first time this year, rising 0.5 percent year-on-year in August, according to the NBS.Fixed-asset investment including those in manufacturing, infrastructure and property sectors gr...
2020 - 09 - 14
China's exports rose by 9.5 percent year on year in August in U.S. dollar terms, marking the strongest gain since March 2019, customs data showed on Monday.A Reuters poll had expected exports to climb by 7.1 percent in August from a year ago compared with a 7.2-percent rise in July, while imports were expected to rise by 0.1 percent in August from a year ago, reversing a 1.4-percent decline in July.The country's exports eclipsed an extended fall in imports, which fell by 2.1 percent last month, shrinking for the second month in a row from a year earlier. The figure were worse th...
2020 - 09 - 10
China saw its foreign trade increase 6 percent on a yearly basis to 2.88 trillion yuan in August, with exports surging 11.6 percent and imports declining 0.5 percent respectively, data from the General Administration of Customs (GAC) showed on Monday.The country's foreign trade of goods reached 20.05 trillion yuan in the first eight months of 2020, down 0.6 percent year-on-year. The drop narrowed by 1.1 percentage points compared with the decline between January and July, Customs data showed.China's foreign trade with the Association of Southeast Asian Nations, its largest trading part...
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