China’s economy returned to growth in the second quarter amid a deep slump at the start of the year, but domestic consumption and investment remained weak as the shock from the coronavirus crisis
The company has hundreds of retail stores worldwide, including 42 in China that closed or operated with reduced hours at the height of the country's outbreak.
Passenger car retail sales in China, the world’s biggest auto market, fell 80% in February because of the coronavirus epidemic, one of the country’s industry associations said.
China’s exports contracted sharply in the first two months of the year, and imports slowed, as the health crisis triggered by the coronavirus outbreak caused massive disruptions to business operations, global supply chains and economic activity.
China’s central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan ($7 billion) into the financial system to help the world’s second-largest economy weather the coronavirus impact.
Stocks are drifting in subdued trading on Tuesday morning, a rare calm day in what is likely to be Wall Street’s worst quarter of performance since the 2008 financial crisis.
The United States of America (USA) remained the top export destinations of the Pakistani products during first seven months of current financial year (2019-20), followed by China and United Kingdom (UK).
China’s exports and imports likely tumbled in the first two months of the year, a Reuters poll showed, as the health crisis triggered by the coronavirus epidemic disrupted businesses and production and wreaked havoc along global supply chains.
Factory activity in China contracted at the fastest pace ever in February, even worse than during the global financial crisis, highlighting the colossal damage from the coronavirus outbreak on the world’s second largest economy.