While most major economies struggle to recover from the pandemic, the Chinese economy shows signs of growth across sectors.
China eked out 2.3 percent economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan, and Europe struggled with disease flare-ups.
Despite growth for the year, «it is too early to conclude that this is a full recovery,» Iris Pang of ING said in a report. Online sales of consumer goods rose 14.8 percent as millions of families who were ordered to stay home shifted to buying groceries and clothing online.
This article was written by Joe McDonald
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