Accessibility links

Breaking News

China’s Economy Grows Nearly Five Percent in Third Quarter of 2020


People stand by an electronic stock board of a securities firm in Tokyo, Oct. 19, 2020. Shares advanced in Asia on Monday after China reported its economy grew at a 4.9% annual pace in the last quarter.
People stand by an electronic stock board of a securities firm in Tokyo, Oct. 19, 2020. Shares advanced in Asia on Monday after China reported its economy grew at a 4.9% annual pace in the last quarter.

China’s economy grew 4.9% for the three months between July and September, providing further evidence that the world’s second-largest economy is rapidly recovering from the worst of the coronavirus pandemic.

The 4.9% growth in the third quarter of 2020 was better than 3.2% posted in the period between April and June, according to figures released Monday by the government’s National Bureau of Statistics.

Meanwhile, China’s industrial output rose 6.9% in September, while retail sales expanded 3.3% for the same month.

The statistics bureau said last week that China’s exports rose 9.9% in September compared to a year ago, and a significant increase from the 9.4% figure posted in August. Analysts say the rise in exports was spurred by global demand for Chinese-made personal protective gear and other medical supplies to curb the spread of COVID-19.

China’s economy was the first in the world affected by the outbreak of the novel coronavirus, which was first detected late last year in the central city of Wuhan.

  • 16x9 Image

    VOA News

    The Voice of America provides news and information in more than 40 languages to an estimated weekly audience of over 326 million people. Stories with the VOA News byline are the work of multiple VOA journalists and may contain information from wire service reports.

XS
SM
MD
LG