China’s economic growth steadies as exports peak

China’s economic growth steadied in November built on strong global demand for exports as well as 5-year high stock market gains.

Bloomberg’s aggregate index showed upbeat economic indicator figures for China, remaining on track of its recovery path and its sights of being the lone economy likely to expand this year.

After gaining full control of the pandemic onslaught, consumer spending started picking up while the Chinese government shifts its focus on its long-term goals and considers withdrawing the emergency stimulus injected into the economy in the early goings of 2020.

The major driving force behind China’s stabilizing economy is export demand. It has been expanding for five months in a row as protective health gear and electronics became more indemand.

Meanwhile, China’s housing market has come alive after falling in the wake of the virus spread in central China. Home sales value rose 8.2% through the end of October, helping investment and construction industries recover.