China rebounds from coronavirus crisis, economy grows 3.2% in Q2

However, Shanghai Composite slips 4.5% over policy tightening, foreign selling

Economies in Europe and the US are still languishing as the pandemic forces cities to shut down and shoppers to stay home. But one major country is growing once again: China.

The world’s second-largest economy expanded 3.2 per cent from April through June, compared to the same period last year, Chinese officials said on Thursday. It was an abrupt turnaround from the January through March quarter, when the economy shrank 6.8 per cent, the first contraction that China has acknowledged in nearly half a century.

The recovery points to the authoritarian government’s success in bringing the coronavirus outbreak under control