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China 2020 GDP to slow to 3.3%, lowest since 1976: survey

1Q likely shrank 3.7% as coronavirus drags down world's second-largest economy

How quickly growth rebounds is crucial for President Xi Jinping to achieve Communist Party's goal of doubling GDP by 2020 compared with 2010. (Source photo by Reuters) 

HONG KONG -- China's economy likely contracted by 3.7% in January-March quarter and will slow to 3.3% growth for all of 2020 as the coronavirus pandemic takes its toll, according to the consensus forecast of economists survey by Nikkei and Nikkei Quick News.

The average forecast of 29 economists would mark the first time China's economy has shrunk since at least 1992.

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