China GDP Expands 2.3% In 2020 With Fast Recovery From COVID

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EconomyChina GDP expands 2.3% in 2020 with fast recovery from COVID

Sole major economy in positive territory expected to keep up momentum in 2021

20210117 china export

Employees of Aiways Automobiles during a government-organized media tour in Shanghai on Jan. 14. © Reuters

CK TAN, Nikkei staff writerJanuary 18, 2021 11:05 JSTUpdated on January 18, 2021 15:10 JST

SHANGHAI -- China's gross domestic product in 2020 grew on the tail wind of investment and consumption, backed by a relatively rapid recovery from the COVID-19 pandemic that also fueled exports.

Full-year growth came in at 2.3% year on year in real terms excluding price fluctuations, the National Bureau of Statistics said on Monday, higher than the median 2.1% projected by 35 economists polled by Nikkei.

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