The Chinese economy showed strong resilience and a robust rebound amid COVID-19. It not only made China the only major economy worldwide with positive growth in 2020 but also injected impetus into the global economic recovery.
The epidemic-induced lockdowns loomed over China's economy in the first half of 2020, but with quick emergency response and government-aided stimulus package, the country's economy roared back.
China will prioritize stability in its monetary policy in 2021, said Yi Gang, governor of the People's Bank of China.more
China will further unleash its consumption potential to foster a strong domestic market, while taking opening-up to a higher level.more
SAIC-GM-Wuling (SGMW), a major Chinese automobile manufacturer between SAIC Motor, General Motors and Liuzhou Wuling Motors, reported strong annual sales in 2020, the company said.
Weichai Holding Group Co., Ltd., a leading Chinese powertrain manufacturer, has acquired a controlling stake in Lovol, one of the country's major agricultural equipment makers.
First Automotive Works (FAW) Group Co., Ltd., China's leading automaker, saw its revenue increase 12.5 percent year on year in 2020 to 695 billion yuan (about 107 billion U.S. dollars).