BEIJING, July 16 — China’s economy is likely to return to modest growth in the second quarter after a record contraction, as lockdown measures ended and policymakers stepped up stimulus to combat the shock from the coronavirus crisis. The gross domestic product (GDP) numbers, due early today,...
Thursday, 16 Jul 2020 07:34 AM MYT
The gross domestic product numbers, due early today, will be 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. China’s services sector, which is dominated by smaller firms, has not rebounded as quickly as factory production, though there are some signs that consumer confidence is gradually improving.
While China’s 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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