China’s Economy Recovers from Pandemic, 4.9 Per cent Growth in September Quarter

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China’s economy appears to be recovering from the effects of the Corona virus epidemic.
China’s economy registered a growth of 4.9 percent in the quarter end in September
compared to the same period last year. The September quarter data released on Monday came
as expected.


Factory production also improved
The ruling Communist Party of China opened factories, shops and offices in March, declaring
complete control of the epidemic. China’s factory production has also improved due to
increasing foreign demand for masks and other medical products.


Economy is growing steadily
With this, the retail sales figure in China has now reached the pre-Covid-19 level. The
National Bureau of Statistics report states that the economy is now growing in a steady
manner. However, the bureau cautioned that the international situation still remains complex
and serious.The corona virus wreaked havoc in China in December last year. China reported a growth of 3.2 percent in the quarter ended June. China was the first major country in the world to record growth during the epidemic.


Exports increased 9.9 percent in September
It is known that China’s trade figures in September have also been very good. According to
data released by the Customs Department, China’s exports rose 9.9 percent to $ 239.8 billion
in September. Exports had registered a growth of 9.5 per cent in August.


Imports up 13.2 percent
Similarly, imports rose 13.2 percent to $ 202.8 billion in September. China’s imports declined
by 2.1 percent in August. The lockdown was imposed in economies around the world due to
the Covid-19 epidemic. But China’s economy has opened up soon after the lockdown,
benefiting its exporters.

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