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

InternationalChina Blast: 17 Inured as Explosion Rocks Residential Area in Shanxi Province; Disturbing Video Goes Viral

BusinessGlobal Tech Firms Eye India for Manufacturing Amid US-China Tensions

OpinionsWill the Trump Card work Against China?

International20 Dead After Fire Blows Up A Nursing Home In Northern China (Photos)

InternationalUS Imposes 104% Tariff on China, Effective April 9

National Realted Stories

NationalTelangana CM urges RTC employees to withdraw strike call

National‘Betraying the Hindus’: Pramod Krishnam tears into Rahul, Akhilesh over Pahalgam attack

National'Sharbat Jihad' row: Delhi HC slams Ramdev for fresh video, warns of contempt action

NationalBihar: Female dancer gang raped in Patna; two arrested, one absconding

NationalNaresh Meena acquitted in 20-year-old case, Jaipur court cites lack of evidence