Hong Kong (CNN Business) China's economy grew more than expected last year, even as the rest of the world was upended by the coronavirus pandemic. The world's second largest economy expanded 2.3% in 2020 compared to a year earlier, according to government statistics released Monday. The expansion also beat expectations: The International Monetary Fund, for example, predicted that China's economy would grow 1.9% in 2020 . It's the only major world economy the IMF expected to grow at all. Retail sales lost a little steam in December, rising 4.6% compared to November's 5%.

Source: CNN January 18, 2021 02:31 UTC