China's economy grows 4.9% amid covid-19 pandemic
The Chinese economy has grown as much as 4.9% in the last quarter of 2020, despite the coronavirus pandemic that has ravaged all countries of the world. China expanded 4.9% in the July-to-September quarter compared to the same time frame in 2019, according to government statistics released Monday by the Chinese Ministry of Finance. The growth is much significant than the 3.2% increase that China recorded in the second quarter, when it managed to avoid recession caused by the Coronavirus pandemic. "China's economy continued its rapid rebound last quarter, with the recovery broadening out and becoming less reliant on investment-led stimulus," wrote Julian Evans-Pritchard, senior China economist for Capital Economics, in a research note. "What's more, the monthly data show that growth was still accelerating heading into Q4," Evans-Pritchard added. The report also says China's Industrial production grew 5.8% in the third quarter fro...