China's economy grows 2.3% in 2020 as rebound from Covid-19 pandemic continues

China's GDP grew 2.3% in 2020, making it the only major economy in the world to avoid a contraction last year.
China's GDP grew 2.3% in 2020, making it the only major economy in the world to avoid a contraction last year. © FRANCE 24

China's GDP grew 2.3% in 2020, making it the only major world economy to avoid a contraction. The growth was pushed by its manufacturing sector, although retail spending and consumer appetite remained low. Meanwhile in South Korea, the heir to smartphone maker Samsung is convicted on bribery charges and sentenced to two and a half years in prison, which pushed Samsung-related stocks down in trading.