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China’s economy rebounds in Q2 after steep slump, consumption and investment still weak | Malay Mail

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BEIJING, July 16 — China’s economy returned to growth in the second-quarter after a deep slump at the start of the year, as lockdown measures ended and policymakers stepped up stimulus steps to combat the shock from the coronavirus crisis. The world’s second-largest economy was still not out...

Thursday, 16 Jul 2020 10:12 AM MYT

The world’s second-largest economy was still not out of the woods, however, as consumption and investment remained in the doldrums, suggesting authorities will likely have to offer more support to strengthen the recovery. The GDP numbers are being closely watched around the world, especially as many countries continue to grapple with the Covid-19 pandemic even as China has largely managed to contain the outbreak and has begun to restart its economic engines.

On a quarter-on-quarter basis, GDP jumped 11.5 per cent in April-June, the NBS said, compared with expectations for a 9.6 per cent rise and a 10 per cent decline in the previous quarter. While the economy is showing a steady recovery, a hard battle still lies ahead as the situation remains severe both at home and abroad, state radio quoted Premier Li Keqiang as saying on Monday.

 

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