Home News Science&Tech Corona virus will cost China a nice share of GDP

Corona virus will cost China a nice share of GDP

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The new corona virus is significantly reducing economic growth in China. Credit rating agency S&P Global expects the rate of growth of the second largest economy in the world to fall to 5 percent in 2020.

Last year the Chinese economy improved by 6.1 percent. That was already the weakest growth in the country in almost three decades.

S&P Global, a leading credit rating agency in the financial world, already took into account that China would grow less rapidly this year. But before the virus outbreak, the forecast was still at 5.7 percent growth for 2020.

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