China’s Economy Recovered Steadily in 2020 with Main Goals Accomplished Better Than Expectation
05.19.2021
The national economy recovered steadily, employment and living standards were ensured forcefully, and the main goals and tasks of economic and social development were accomplished better than expectation. GDP was 101,598.6 billion yuan in 2020, an increase of 2.3 percent over last year.

The year-on-year GDP for the first quarter went down by 6.8 percent, up by 3.2 percent for the second quarter, 4.9 percent for the third quarter and 6.5 percent for the fourth quarter. By industries, the value added of the primary industry was 7,775.4 billion yuan, up by 3.0 percent, that of the secondary industry was 38,425.5 billion yuan, up by 2.6 percent and that of the tertiary industry was 55,397.7 billion yuan, up by 2.1 percent.

1. The Grain Output Reached Another High and Production of Pigs Sustained a Fast Recovery.

2. Industrial Production Continued to Grow and High-tech Manufacturing and Equipment Manufacturing Enjoyed Faster Growth.

3. Service Sector Recovered Gradually and Modern Service Industries Demonstrated Favorable Momentum.

4. Market Sales Recovered Fast and Upgraded Consumer Goods Witnessed Accelerated Growth.

5. Investment in Fixed Assets Rebounded Steadily and Investment in High-tech Industries and Social Sector Grew Fast.

6. Foreign Trade Achieved Positive Growth and Trade Structure Continued to Optimize.

7. Growth of Consumer Price Slowed and Producer Prices for Industrial Products Dropped.

8. Employment Was Generally Stable and Surveyed Unemployment Rate in Urban Areas Lowered to the Level of Last Year.

9. Resident Income Grew at the Same Pace as the Economy and Urban-Rural Per Capita Income Ratio Continued to Narrow Down.

The full version of the article is available here.

Release date
01.18.2021
Analytics on topic
Article
05.15.2020
Coronavirus: China’s uneven economic recovery continued in April, as industrial engine returned to growth
In April, China’s industrial output grew by 3.9 per cent, retail sales fell by 7.5 per cent and fixed asset investment fell by 10.3 per cent, suggesting an uneven recovery. Data suggests demand weaknesses remain, while for industrial engine overseas shutdowns will hamper growth before long.
Source: South China Morning Post
Report
05.27.2020
Report
05.27.2020
Monitoring the situation internationally - Germany
Germany registered its first Corona-case on January 27, and as of April 30 around 162,500 cases have been reported, and 6.572 deaths have been registered. 123,500 people have reportedly recovered from the virus. This report intends to provide DI’s members with a selection of information on essential developments related to the Corona crisis in Germany.