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Economy

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

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

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

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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