China’s GDP collapses for the first time in 28 years

US, WASHINGTON (ORDO NEWS) — China’s GDP in the first quarter of 2020 under the influence of the coronavirus pandemic fell by 6.8% in annual terms, according to data released on Friday by the state statistical office of the PRC.

The Chinese economy has shown negative growth for the first time since 1992, when they began to keep statistics.

According to the report, China’s GDP in annual terms amounted to 20.650 trillion yuan (about three trillion dollars. – Ed.).
The indicator turned out to be worse than expected by experts who predicted a decline of 6.5%.

In the first quarter of 2019, China’s GDP increased by 6.4%. Last year, the Chinese economy grew by 6.1%, retaining the status of the largest in the world.

At the end of 2019, Beijing informed the World Health Organization about an outbreak of unknown pneumonia in the city of Wuhan in the central part of the country (Hubei Province). Experts have found that the causative agent of the disease is a new coronavirus that causes the disease, which later received the official name COVID-19.

WHO March 11 announced a pandemic of a new coronavirus in the world, and March 29 in China announced that the spread of the epidemic in the country as a whole was stopped. According to the latest data, 82 367 cases of coronavirus infection were confirmed in the country, 77 944 people were discharged from hospitals, 3342 died.

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