China’s economic growth figures for 2020 will likely underscore the country’s rebound from the pandemic and provide a contrast with more muted signals from the U.S. and other Western economies.
China’s economy is expected to gather steam in the final quarter of the year, with gross domestic product expanding 6% from a year earlier, compared with 4% in the third quarter. That will likely take growth in the pandemic-ravaged year to 2.2%—significantly lower than in 2019 but still leaving it the only major economy to advance in 2020.
Joe Biden is scheduled to be sworn in as president. Mr. Biden last week called for a $1.9 trillion Covid-19 relief plan to help Americans weather the economic shock of the pandemic and pump more money into testing and vaccine distribution.