Beating nearly all the predictions on the economic output of the pandemic hit economy, China has registered the growth of 2.3 percent in the year 2020. Even though it is the lowest economic growth since the reforms of 1970s but it is better than all the other major economies for the same financial year. While releasing the data the country’s National Bureau of Statistics stated Covid-19 shutdowns as the major reason behind the poor economic performance in the last year.
As per NBS data, the Chinese economy amounted to be $15.68 trillion i.e 101.59 trillion yuan that is nearly 2.3% greater than the previous year. China having the world’s second largest economy is the only economy to register a positive growth despite the pandemic.