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China has done something no other major economy did in 2020.
Beating expectations with a 6.5-percent growth in the fourth quarter, China s gross domestic product (GDP) expanded 2.3 percent year on year last year, exceeding the 100-trillion-yuan (15.42 trillion U.S. dollars) threshold for the first time, official data showed Monday.
That makes China the only major economy to post growth in 2020. In the context of the unprecedented COVID-19 pandemic and recession, the good news from China is even more commendable.
The early days of 2020 were devastating for the world s second-largest economy. But after a quarter-long lull in economic activity, the resumption of business forged ahead with resolute and targeted virus containment measures in place.