China's economy picks up speed in fourth quarter, ends 2020 in solid shape after COVID-19 shock

China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and remained poised to expand further this year even as the global pandemic raged unabated.

Residential buildings under construction and a power station are seen near the central business district (CBD) in Beijing, China, January 15, 2021. [Reuters]

The world’s second-largest economy has surprised many with the speed of its recovery from the coronavirus jolt, especially as policymakers have also had to navigate tense US-China relations on trade and other fronts.