The Chinese economy’s sharp rebound from the corona virus pandemic has now slowed, official figures show. Gross domestic product (GDP) increased by 7.9% in the second quarter of 2021 compared to the same time last year. Official figures for June also showed better-than-expected growth for retail sales and industrial production. “China’s economy sustained a steady recovery with the production and demand picking up,” the NBS said in a statement. In April, official figures showed that China’s economy grew a record 18.3% in the first quarter of 2021 compared to the same quarter last year.

Source: The Nation July 15, 2021 19:18 UTC