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8/17/2020, 1:00 PM (Source: TeleTrader)
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China's GDP to grow 1.8% in 2020 - UOB

United Overseas Bank's economist Ho Woei Chen stated on Monday that China's GDP is expected to grow 1.8% this year, as the final two quarters of 2020 will face a yearly growth of 4.9% and 5.7%, respectively.

"We continue to expect the broad-based recovery in China's economy to stabilize overall labor market conditions in the second half, though certain sectors that are exposed to tourism and retail could remain weak," Ho revealed.

The latest data coming from China's central bank also predicted the country's GDP will grow 2% in the current year, since the "performance in China is very good."

Baha Breaking News (BBN) / ND