NEW YORK – The Chinese economy has staged an impressive rebound from the COVID-19 shock amid the country’s effective efforts to contain the virus, analysts have said.
“Our tracking points to a clear V-shaped recovery in China,” analysts at the Institute of International Finance (IIF) said in a report released Tuesday, adding China’s economic activity improved noticeably in the second quarter following a downbeat reading in the prior quarter due to the pandemic fallout.
China has been on the path to normalization with industrial production and manufacturing painting a V-shape, while retail trade remains weak, said the report.
Noting “normalization in the retail sector could be an uphill battle,” IIF analysts said they “are confident that overall activity is staging a V-shaped recovery.”
“China’s experience suggests a strong recovery in industry might be feasible in countries where virus containment measures are effective,” they added.