The National Bureau of Statistics report says the chinese economy “continued the steady recovery". It says the Chinese exporters have benefited largely from the early reopening of economy and global demand for the medical supplies. 4.9% of the chinese economic growth has been figured in the latest quarter economic growth report. The growth in percentage for the financial quarter ending september is in accordance with the ruling partys action. The chinese government said the pandemic is under control and reopened its factories, shops and offices.
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The output increased when the demand for Chinese-made masks and other medical supplies increased domestically nad internationally. Retail industry sales, also regains to pre-covid levels once the manufacturing industry started to operate. The chinese company's foreign competitors who are still struck with the pandemic, helped chinese companies in taking their market shares. China where the pandemic has begun is now the first economy to return to growth. A 3.2% expansion has been seen in the quarter ending June. Travel restrictions for toureists and authorities have been lifted boasting Tourism Economy.
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Almost for two months there were no viral transmission in China. The The ruling party has promised in May to spend $280 billion on meeting goals including creating 9 million new jobs but is not interested to join the United States and Japan in rolling out stimulus packages of $1 trillion or more due to increase in Chinese debt. The ruling party's decision to impose the most intensive anti-disease measures in the history helps the china to recover fast. Those temporarily cut off most access to cities with a total of 60 million people.
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