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China's imports of crude oil and natural gas in the first four months jumped 8.9 percent and 16.4 percent, respectively. The country purchased 340 million metric tons of iron ore during the period.
China's economic growth is projected to decline to 2.3 percent in the baseline or most likely scenario and to 0.1 percent in a worse-case scenario in 2020, down from 6.1 percent in 2019, the World Bank said in the updated economic report for the East Asia and Pacific region issued on Tuesday.
China's most competitive
China's insurance regulator barred Yao Zhenhua, chairman of Foresea Life Insurance, from the insurance industry for 10 years due to irregular market operations.
China's economic activities quickly recovered to the pre-pandemic levels by the end of the second quarter. China's value-added industrial output rose 5.6 percent year on year in August, marking the fastest gain in eight months. The country's exports climbed 9.5 percent year on year last month, the strongest gain in 17 months.
