Beijing: China with the world’s second largest economy (Economy) has recorded a growth rate (GDP) of 4.9% in the third quarter of the financial year 2020-21 . The Chinese economy is nearing the first level of the epidemic.
China’s National Bureau of Statistics (NBS) says that the growth rate for the July-September quarter has been slightly lower than anticipated. The agency has warned that due to the volatile environment in the world, instability may be seen again in the coming times. China’s economic growth was estimated to be 5.2 percent in the third quarter. Its growth rate in the second quarter was 3.2 percent. The industrial production rate has also been 6.9% compared to the same time last year.
ALSO READ – LTC Cash Voucher, Special Festival Advance Scheme to Increase Consumer Expenditure in Extreme Economy
According to the International Monetary Fund’s assessment, the growth rate of GDP in China is returning to a boom. China is one of the few economies in the world where growth rate is increasing rather than decreasing. Official data shows that China’s economy is recovering from lockdowns and other steps taken during the epidemic. While other countries of the world are struggling to overcome the new wave of lockdown and infection. India’s GDP is expected to fall by 0.10 percent this year.
Also read- Again on GDP growth, Rahul attacked the Modi government, said- ‘Pakistan and Afghanistan too …’
The Communist government of China has patted itself on the steps to overcome the corona infection and for giving the vaccine to the public before all the tests. Shopping, tourism and eating out have become as common in the country as before. The urban unemployment rate fell to 5.4 percent in September.