TIMES24H – International Breaking NewsTIMES24H – International Breaking News
    Facebook Twitter Instagram
    TIMES24H – International Breaking NewsTIMES24H – International Breaking News
    • Hot!
      1. COVID-19
      2. Vietnam
      3. Asia
      4. World
      5. Video
      Featured

      Singer promotes Vietnamese fashion brands in China

      By Mike HarrisonJune 3, 20230
      Recent

      Singer promotes Vietnamese fashion brands in China

      June 3, 2023

      Biden hails averting ‘catastrophic’ default in Oval Office speech

      June 3, 2023

      Vietnamese use public ACs to escape heat wave

      June 2, 2023
    • Business

      POPS Reaches Huge Milestone with 10,000 Enrolled Students

      December 16, 2021

      UrBox raises $2.2 million in Pre-Series A

      December 16, 2021

      One Mount garners two prestigious awards as it celebrates two years of remarkable growth

      October 11, 2021

      IBM and Mercedes develop “Stolen Vehicle Help” for Mercedes me service

      October 5, 2021

      Porsche reports Q3 2021 U.S. retail sales

      October 2, 2021
    • Life
      1. Lifestyle
      2. Recipes
      3. Fashion
      4. View All

      Enjoy a Healthier and More Comfortable Summer with TCL Air Conditioners

      June 3, 2023

      Singer promotes Vietnamese fashion brands in China

      June 3, 2023

      Vietnamese use public ACs to escape heat wave

      June 2, 2023

      A response from an ex-lover

      June 2, 2023

      Cooking tips for a smaller Thanksgiving celebration

      November 18, 2020

      Hanoi: A capital, and a kingdom of egg coffee shops

      November 16, 2020

      4 must-try recipes when you travel to Vietnam

      November 7, 2020

      Cutting-Edge Technology for Top Dentists

      December 24, 2021

      H&M faces boycott in Vietnam over “problematic map”

      April 7, 2021

      Ground-breaking French designer Pierre Cardin dies aged 98

      December 30, 2020

      #HealthGoals: Jessica Simpson shows off 100 lbs weight loss in Christmas pajamas

      December 27, 2020

      Singer promotes Vietnamese fashion brands in China

      June 3, 2023

      Vietnamese use public ACs to escape heat wave

      June 2, 2023

      A response from an ex-lover

      June 2, 2023

      Parents battle children’s video game addictions

      June 2, 2023
    • Sport
    • Tech
      1. Gadgets
      2. View All

      “Stupid windman” PC assembly experience based on Newegg ChatGPT

      March 29, 2023

      The value of the industrial cloud as an example of “the power of ecosystem, the power of expertise”

      March 29, 2023

      Machbase Releases Open Source Structured Time Series Database “Macbase Neo”

      March 28, 2023

      KISA, 2023 ‘Training to Build Elite Information Security Professionals’…”Double the Size of the Previous Year”

      March 28, 2023

      “Stupid windman” PC assembly experience based on Newegg ChatGPT

      March 29, 2023

      The value of the industrial cloud as an example of “the power of ecosystem, the power of expertise”

      March 29, 2023

      Machbase Releases Open Source Structured Time Series Database “Macbase Neo”

      March 28, 2023

      KISA, 2023 ‘Training to Build Elite Information Security Professionals’…”Double the Size of the Previous Year”

      March 28, 2023
    • PR Newswire
    Media Outreach Newswire
    TIMES24H – International Breaking NewsTIMES24H – International Breaking News
    Home»Asia»Chinese economy firstly recover from Covid-19 pandemic
    Asia

    Chinese economy firstly recover from Covid-19 pandemic

    Khuong VoBy Khuong VoNovember 17, 2020Updated:November 26, 2020No Comments4 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Chinese economy is the first major economy to recover from the COVID-19 pandemic with a growth of 4.9% from July and September according to government data.

    Comparing to analyst expectations, there is a slight drop in the year-on-year expansion, however, they’re also a dramatic reversal from the first quarter of this year when the economy shrunk by 6.8%, it is the first contraction of the Chinese economy since 1992 when officials began keeping quarterly GDP data.

    China’s central bank governor Yi Gang said on Sunday that officials predict annual growth of about 2%. “The Chinese economy remains resilient with great potential. Continued recovery is anticipated, which will benefit the global recovery,” he said.

    According to the International Monetary Fund, the system of industry and trade around the world is predicted to decline by 4.4% and considered a sharp inclination since the Great Depression. By contrast, China is expected to be the only G20 economy to expand this year.

    After the spreading of coronavirus in Wuhan to nationwide and global wide, besides lifting the lockdown, China policymakers released targeted stimulus measures, such as tax cuts and lower interest rates to credit local governments and cheaper lending for businesses.

    Most of the schools, offices, enterprises in every corner of Chinese cities have reopened again. Although China does not have any new locally transmitted cases within two months, a new outbreak once again occurs in the eastern Shandong of this country. 4,634 coronavirus deaths and more than 85,000 cases had been officially reported in China.

    Comparing to the same period last year, industrial production in September increase by 6.9% according to data illustrated on Monday. Retails sales rose by 3.3%. Auto sales for the month also grew 12.8% while domestic air travel surpassed the level of pre-pandemic. Consumption expenditures have started to enhance one more time, provided by a revival of tourism during a holiday lasting one week which is known as Golden Week.

    The fact that losing jobs, unstable growth across the country, household and corporate debt, as well as trade frictions as ties with the US and other trading partners keeping progressively worse, makes the power of China’s economic recovery still remains doubtful. Official economic data is also considered unbelievable and inflated by the local government.

    China is the first major industry to recover from the pandemic.

    Besides the slight growth and much more tough international environment, the top leader of China is chasing a new challenge known as “dual circulation economy.” Xi Jinping is the person who proposed this concept with the purpose that reducing the country’s reliance on selling in foreign markets and technology and boosting domestic consumption and advances in technology.

    “Globalization is facing a reversal, with rising protectionism and unilateralism. The world economy is weakening as international trade and investment, science, technology … security and politics are all undergoing profound change,” Xi said in a speech in Shenzhen last Wednesday.

    “We are forming a new development pattern with the domestic economic cycle playing a leading role. Our economy is at a critical period of transformation,” he said.

    Despite China’s growth figure had been underestimated, it is clear that the world’s second-biggest economy has been leading the way in the recovery from Covid-19 for some reasons.

    In the first three months of the year, China China experienced most of its economic reduction while the last of the world consider the maximum of the pain belongs to the second quarter.

    The speed at which China took their action when they admitted that they were facing a tough problem. As other countries, they knew what to do after threat public health and lockdown had great affection.

    Cutting down the activities was carried out by measures to soften the economic blow. Public investment aiming to counteract weak private sector  Capital expenditures was intensified by China.

    via ABC News

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Singer promotes Vietnamese fashion brands in China

    June 3, 2023

    Biden hails averting ‘catastrophic’ default in Oval Office speech

    June 3, 2023

    Vietnamese use public ACs to escape heat wave

    June 2, 2023

    Leave A Reply Cancel Reply

    Latest News

    Enjoy a Healthier and More Comfortable Summer with TCL Air Conditioners

    June 3, 2023

    Singer promotes Vietnamese fashion brands in China

    June 3, 2023

    Biden hails averting ‘catastrophic’ default in Oval Office speech

    June 3, 2023

    Innovent Announces the Second Breakthrough Therapy Designation by NMPA for Olverembatinib for the Treatment of Patients with SDH-Deficient GIST

    June 2, 2023
    DMCA.com Protection Status
    Facebook Twitter Instagram Pinterest
    © 2023 TIMES24H. Regn. No. 0316487598. All rights reserved

    Type above and press Enter to search. Press Esc to cancel.