China’s economy experiencing its fastest growth this year

CHINA’S economy is booming and experiencing its fastest growth this year, with Chinese firms beating struggling rivals to market share.

The country where the global pandemic began has seen its economy boom since getting the virus under control.

The Covid-19 pandemic came out of Wuhan, China in January but since then, due to reduction having to be made in manufacturing capacity in countries across the world, Chinese firms have taken full advantage.

Unsurprisingly, Chinese factory activity has already picked up so whilst China’s economy is booming and experiencing its fastest growth this year, other countries are still suffering with poor export business and economic decline.

In fact, the world’s second-largest economy, who claimed Spain was to blame for Covid-19 outbreaks, rose by 9.9 per cent rom earlier this year, as recorded in September.

Julian Evans-Pritchard, a China analyst at Capital Economics explained: “The big picture is that outbound shipments remain strong, with easing demand for Covid-19 related goods such as face masks being mostly offset by a recovery in broader demand for Chinese-made consumer goods.”

The people and workers of China were praised last month by WHO executive Mike Ryan, who offered his “deepest congratulations” for managing to get Covid-19 crisis under control in the country.

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Written by

Matthew Roscoe

Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]