Gross Domestic Product
GDP 2020
Updated: Oct 20, 2020
chinadaily.com.cn
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China's economy grew by 4.9 percent year-on-year in the third quarter of the year, versus 3.2 percent in the second one, the National Bureau of Statistics said.
The country's GDP growth reached 0.7 percent year-on-year over the first three quarters of this year, turning positive from negative 1.6 percent in the first half, the NBS said.
The Chinese economy posted a continuous recovery in the first nine months and achieved significant results in coordinating development with epidemic prevention, the bureau said in a statement.
Gross Domestic Product (GDP) refers to the final value of products at market prices produced by all resident units of a country during a certain period of time. GDP is the core indicator of national accounts, and also an important indicator in the measurement of economic conditions and the level of development of a country.
