China's economy could contract 10% in first quarter, analysts say

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China is likely to see its economy contract for the first time in the first quarter of the year since 1992 as the ongoing coronavirus outbreak took a heavy toll on the world's second largest economy.

S&P Global Ratings lowered forecast of China's 2020 full-year economic growth to 2.9 per cent, the fourth cut it made in three months, compared to the forecast of 5.7 per cent growth at the end of last year, shows its research note on Wednesday.

In the first quarter, China's economy is . . .

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