First appeared at CGTN, 25 September 2020
China’s economy keeps recovering from the coronavirus pandemic-led crisis through the third quarter of 2020, as revealed by the numbers of August activity. Its GDP grew by 3.2% in the second quarter, after falling by 6.8% in the first quarter, in both cases as compared from a year before. It is now the only major economy expected to exhibit growth this year. Successful containment of the pandemics has allowed it to be first-in-first-out relative to others.
One feature in common with other countries, however, has been the unbalanced shape of the economic recovery. The supply side has run ahead of the demand side. Re-opening factories starting in February made possible a steady return of industrial output, which grew 5.6% on an annual basis in August, while overall domestic consumption lagged during the first half of 2020.
Fixed investment has picked up