China's economy recovering albeit slowly
China's economy recovering albeit slowly

China is gradually getting back to normal after the first wave of the pandemic. Notably, China was the first country that was hit hard by the virus. However, now when the coronavirus spread is easing, China is the first country that is showing signs of a steady recovery. Despite the threat of the second wave, economic activity is gaining momentum. In April, China's industrial production rose by 3.9% year-on-year after falling by 13.5% in the period from January to February. Retail sales continue to decline along with the volume of investment in global capital, yet at a slower pace. Many analysts believe that the Chinese government is planning to launch another stimulus package to prop up the economy and business. Therefore, investors expect the new stimulus measures to be announced at the annual session of the National People’s Congress this week. "Stage-two stimulus to be revealed at the NPC to counter unprecedented challenges posed by the slower than expected recovery of domestic demand, rising unemployment, a deep global recession and continued US-China tensions," TS Lombard's chief China economist Bo Zhuang stressed.  Some economists think that if the escalation of trade relations between two counties persists, China's economy is unlikely to get on the road of recovery in the near future. The US intends to thoroughly investigate the case of the coronavirus origin and punish the party responsible for its spread around the world.

Published: 2020-05-22 14:16:17 UTC
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