With strict measures, China has largely controlled the crown crisis. This has an impact on the economy, which is now returning to normal.
Beijing (dpa) – China’s foreign trade continued to grow strongly in October. With the second-largest economy recovering from the Crown crisis, exports in US dollars unexpectedly jumped 11.4 percent compared to the same month last year, according to Chinese customs.
In general, foreign trade rose 8.4 percent. However, imports were up just 4.7 percent in October. The increase is much lower than expected and weaker than in the previous month at 13.2 percent. However, experts pointed to the unusually long holiday week around the national holiday of October 1, the strong month of comparison from the previous year and lower oil imports.
With the most populous country largely under the control of the coronavirus, the economy has also returned to normal. The virus was controlled with strict quarantine measures, mass testing, contact tracing, and strict entry restrictions. While the world economy is in recession, China is expected to be the only major economy to grow about two percent this year.