Chinese economy stages strong rebound from pandemic: analysts

0 Comment(s)Print E-mail Xinhua, July 9, 2020
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Workers weld at a workshop of an automobile manufacturing enterprise in Qingzhou City, east China's Shandong Province, June 30, 2020. The purchasing managers' index (PMI) for China's manufacturing sector ticked up to 50.9 in June from 50.6 in May, the National Bureau of Statistics said Tuesday. (Photo by Wang Jilin/Xinhua)


The Chinese economy has staged an impressive rebound from the COVID-19 shock amid the country's effective efforts to contain the virus, analysts have said.


"Our tracking points to a clear V-shaped recovery in China," analysts at the Institute of International Finance (IIF) said in a report released Tuesday, adding China's economic activity improved noticeably in the second quarter following a downbeat reading in the prior quarter due to the pandemic fallout.


China has been on the path to normalization with industrial production and manufacturing painting a V-shape, while retail trade remains weak, said the report.


Noting "normalization in the retail sector could be an uphill battle," IIF analysts said they "are confident that overall activity is staging a V-shaped recovery."


"China's experience suggests a strong recovery in industry might be feasible in countries where virus containment measures are effective," they added. 


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