Virus success brings strong recovery in retail sector

Driven by increased retail spending, China has seen more significant growth than other major economies, thanks to the effective measures to put COVID-19 under control, according to experts.

China reported economic growth of 4.9 percent year-on-year in the third quarter, up from 3.2 percent in the second quarter. GDP growth reached 0.7 percent over the first three quarters, turning positive from negative 1.6 percent in the first half, according to the National Bureau of Statistics.

The strong economic data indicate that China is the first major economy in the world to resume growth at prepandemic levels, while economic activity in the United States, Europe and Japan has faltered.