City
Epaper

China's economy contracts 6.8 pc in first quarter of 2020

By ANI | Updated: April 17, 2020 09:20 IST

China's economy contracted 6.8 per cent in the first quarter of 2020 compared to a year earlier, the National Bureau of Statistics said on Friday.

Open in App
China's economy contracted 6.8 per cent in the first quarter of 2020 compared to a year earlier, the National Bureau of Statistics said on Friday.

The world's second-largest economy has been hit by drastic measures taken to contain the spread of coronavirus which has infected over two million people worldwide.

"According to the preliminary estimates, the gross domestic product (GDP) of China was 20,650.4 billion yuan (about $3 trillion) in the first quarter of 2020, a year-on-year decrease of 6.8 percent at comparable prices," the bureau said in a report.

This is the first time that China's economy has shrunk since 1976 and is worse for a single quarter since the country started publishing such figures in 1992, according to CNN.

The Chinese mainland reported more than 80,000 cases of coronavirus and over 3,000 deaths. Extensive lockdowns were put in place to curb the spread of virus, which originated in China's Wuhan province late last year, bringing the country to a standstill.

( With inputs from ANI )

Tags: National Bureau of Statistics of ChinachinaCNNWuhanFacebook group
Open in App

Related Stories

InternationalBeijing Rains: 44 Dead and 9 Missing Due to Torrential Rainfall in China

InternationalTsunami Alert Issued in Parts of China After 8.8-Magnitude Earthquake Strikes Off Russian Coast

National"Never Said Trump Was Lying, Didn't Mention China Even Once": Rahul Gandhi on PM Modi's Operation Sindoor Speech (Watch Video)

OpinionsAfter ‘Cloud Bomb’, ‘Water Bomb’ Now?

International‘This Might Hit You Hard’: NATO Chief Mark Rutte's Warning to India, China, and Brazil Over Russia Ties Amid Ukraine War

National Realted Stories

NationalGujarat: Dahej connectivity to improve as CM lays foundation for Rs 400 cr road project

NationalDelhi CM Rekha Gupta targets Congress over 1984 anti-Sikh riots

NationalTrump threatens to 'substantially' raise tariffs on India for buying Russian oil 

NationalArunachal CM calls for capacity building of civil servants to match citizens' changing needs

NationalKavitha calls off 72-hour fast after Telangana HC declines permission for site