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China’s economy shrank in the first quarter of 2020, the first contraction since at least 1992, confirming the economic damage done by the coronavirus pandemic.
China's gross domestic product (GDP) contracted 6.8 per cent in January-March from a year earlier, shows data released by the National Bureau of Statistics (NBS) on Friday, reversing a 6 per cent expansion in the fourth quarter of last year.
The contraction is the first in the world’s second-largest economy since at least 1992 when official quarterly GDP records started.
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