China’s GDP Fell by 1.6 % in Half a Year
OREANDA-NEWS. The gross domestic product (GDP) of the People’s Republic of China in the first six months of 2020 decreased by 1.6 % compared to the same period of the last year.
This was reported by the Chinese National Bureau of Statistics. “According to preliminary estimates, China’s gross domestic product… in the first half of 2020 was 45,661.4 billion yuan [About 6.4 trillion US dollars. – Ed.], which is 1.6 % less compared with the same period of the last year,” the message says.
The agency explained that in the first half of 2020, the country faced serious problems caused by the outbreak of the coronavirus infection. At the same time, the Chinese economy has gradually recovered by the end of June. In contrast to the first quarter, when a decrease in GDP was registered, in April–June it grew by 3.2 %.