China's economy showed growth




China's economy grew 0.7 percent from January to September, despite the coronavirus pandemic. This is stated in the message of the State Statistical Office of the PRC.





GDP for the first quarter declined 6.8 percent year-on-year, rose 3.2 percent in the second quarter and 4.9 percent in the third. Over the nine months, the agricultural sector grew by 2.3 percent, industry — by 0.9 percent, and the service sector — by 0.4 percent. The country's GDP is 72.27 trillion yuan (about 10.7 trillion dollars).

The report notes that exports in the first three quarters increased by 1.8 percent, while imports decreased by 0.6 percent. In September, the unemployment rate was 5.4 percent, which is 0.2 percentage points lower than in August. Population incomes increased by 3.9 percent in annual terms.

In the second quarter of this year, it was China that turned out to be the only G20 country whose economy grew. Overall, the GDP of the G20 countries collapsed by an unprecedented 6.9 percent. India's economy contracted the most — by 25.2 percent, followed by Great Britain (by 20.4 percent). In South Korea and Russia, the decline in GDP was less significant — by 3.2 percent in the United States.





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TAGS: ECONOMY, CHINA

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