China's economy grew 2.3% in 2020, recovered to pre-pandemic growth rates in 4Q

China’s economy recovered to pre-pandemic growth rates in the fourth quarter, propelling it to a stronger than expected full-year expansion of 2.3% and making it the only major one to avoid contraction.

Gross domestic product climbed 6.5% in the final quarter from a year earlier, fueled by stronger-than-expected industrial output, the statistics bureau said Monday (Jan 18). Economists surveyed by Bloomberg had predicted 6.2% growth for the quarter and 2.1% for the full year.