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Chinese economy bounces back; expands 3.2% as coronavirus curbs lifted

The world's second-biggest economy saw a sharp decline in growth in the first three months of the year during unprecedented coronavirus lockdowns when the GDP plummeted by 6.8 percent.

July 17, 2020 / 06:52 PM IST

China's economy bounced back by posting 3.2 percent growth in the second quarter after a record 6.8 percent slump in the first quarter due to the coronavirus crisis, avoiding a recession.

The world's second-biggest economy saw a sharp decline in growth in the first three months of the year during unprecedented coronavirus lockdowns when the GDP plummeted by 6.8 percent.

China's gross domestic product (GDP) expanded 3.2 percent YoY in the second quarter of 2020, the country's National Bureau of Statistics (NBS) said on Thursday.

In the first half of this year, the country's GDP stood at 45.66 trillion yuan (about $6.53 trillion) amid COVID-19 impact, down 1.6 percent YoY, according to NBS data.