China’s gross domestic product (GDP) rose 4.9% in the third quarter

Liu Aihua, a spokesman for China’s National Bureau, which released data in Beijing on Monday, said the world’s second-largest economy had grown 0.7% in the first nine months. However, she said the economy was still recovering.

Experts believe that China has shown some signs of recovery from the record recession caused by COVID-19 in the first months of 2020, but less than that. This growth is driven by a rebound in exports but the impact of COVID-19 elsewhere in the world is affecting the Chinese economy.

The return of lockdowns in Europe and the wave of coronavirus infections in some countries will hurt consumer spending and adversely affect China’s economy.

The services sector, which already accounts for over 50% of GDP, has recovered somewhat slowly. But, retail sales and exports rebounded.