The Chinese government estimates that the economic costs of the floods, which have so far affected 27 of China’s provincial-level jurisdictions, is likely to hit 144.43 billion yuan (US$20.6 billion). Photo: AP
The Chinese government estimates that the economic costs of the floods, which have so far affected 27 of China’s provincial-level jurisdictions, is likely to hit 144.43 billion yuan (US$20.6 billion). Photo: AP

China’s economic recovery under threat from fresh coronavirus outbreaks and floods, analysts say

  • China avoided a recession after its economy grew by 3.2 per cent in the second quarter of 2020, although retail sales remain fragile
  • Floods have so far affected 27 of China’s provincial-level jurisdictions, while fresh outbreaks have been detected in the likes of Xinjiang and Liaoning

The Chinese government estimates that the economic costs of the floods, which have so far affected 27 of China’s provincial-level jurisdictions, is likely to hit 144.43 billion yuan (US$20.6 billion). Photo: AP
The Chinese government estimates that the economic costs of the floods, which have so far affected 27 of China’s provincial-level jurisdictions, is likely to hit 144.43 billion yuan (US$20.6 billion). Photo: AP
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