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China's GDP increased by 2.3% in 2020

The National Bureau of Statistics of China disclosed on January 18th, 2021, the preliminary information about the country's gross domestic product in 2020. According to those figures, China's domestic product increased by 2.3% and reached RMB 101,598 bn (approximately USD 15,420 bn), exceeding the International Monetary Fund and the OECD estimates, which were expecting a growth limited to 2%.

Despite the significant impact of the pandemic that hardly hit the economy in the first quarter of 2020, China could resume business activities and support employment effectively through fiscal and financial supporting measures aimed to cut costs and fees. The policies, together with the measures for the prevention and control of the pande