The Chinese economy grew by 2.3 percent in 2020

Although China’s annual gross domestic product (GDP) growth has slowed to its lowest level in the past year as a result of the pandemic for more than forty years, China is still one of the few major economies in the world that managed to expand last year. The World Bank forecasts 2 percent growth, while the International Monetary Fund (IMF) forecasts 1.9 percent growth in China’s GDP in 2020. In addition, the IMF says China may be the G20’s only country to achieve economic growth over the past year. Referring to the uncertainty over the pandemic, the Chinese parliament did not set GDP growth targets last year. (MTI)