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China’s economy grew 2.3% in 2020 despite pandemic

While outperforming other nation’s economies, it was the worst performance in years for Beijing.

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Updated: January 17, 2021 - 10:37pm

China’s economy grew 2.3% in 2020 despite the coronavirus pandemic that originated in its borders and ravaged the world, according to statistics released Monday. 

The reported growth outperformed nearly all of the world’s other economies, and exceeded expectations even for China.

The International Monetary Fund, for instance, had predicted China’s economy would only grow by 1.9% in 2020.

Nonetheless, China’s gross domestic product performance was the worst since 1976, although there are signs its economy is roaring back to life.

Growth in the fourth quarter of 2020 reached nearly 5%. 

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