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ASIA:
China’s economy grew at the slowest pace in more than four decades last year, official figures show but remains on course to be the only major economy to have expanded in 2020. The economy grew 2.3% last year, despite Covid-19 shutdowns causing output to slump in early 2020. China’s mainland share markets as well as Hong Kong’s Hang Seng posted modest gains on the latest figures, which exceeded economists’ expectations, according to a Reuters poll.
India’s trade deficit in goods widened to $15.44 billion in December as imports rose to $42.59 billion, pushed by a surge in gold imports, while merchandise exports were up marginally, revised data released by the government on Friday showed. The merchandise trade deficit was $12.49 billion in December 2019. The merchandise exports rose 0.14% in December from a year earlier to $27.15 billion, the data showed.