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China's economy grows 3.2% as virus lockdowns lifted

The expansion reported on July 16 was a dramatic improvement over the previous quarter’s 6.8 percent contraction

July 17, 2020 / 06:50 PM IST

BEIJING (AP) — China’s economy rebounded from a painful contraction to grow by 3.2 percent over a year earlier in the latest quarter as anti-virus lockdowns were lifted and factories and stores reopened.

The expansion reported on July 16 was a dramatic improvement over the previous quarter’s 6.8 percent contraction — China’s worst performance since at least the mid-1960s. But it still was the weakest positive figure since China started reporting quarterly growth in the early 1990s.

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China, where the coronavirus pandemic began in December, was the first economy to shut down and the first to start the drawn-out process of recovery in March after the ruling Communist Party declared the disease under control.