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Global Health Econ Sustain

ORIGINAL RESEARCH ARTICLE
How long has it taken China’s economy to

recover from the COVID-19 epidemic?

1
Hui Jin * , Jiamin Xue *, Haochuan Yang , Zhenyu Zhu , and Mihajlo Jakovljevic 2,3,4
1
1
1
1 Department of Economics, School of Economics and Management, Zhejiang Sci-Tech University,
Hangzhou, Zhejiang, China
2 UNESCO - The World Academy of Sciences (TWAS), Trieste, Italy
3 Shaanxi University of Technology, Hanzhong, China
4 Department of Global Health Economics and Policy, University of Kragujevac, Kragujevac, Serbia

Abstract
The coronavirus disease 2019 (COVID-19) epidemic has profoundly impacted the
stability of China’s economy, resulting in severe short-term economic fluctuations.
A critical question arises: How long did it take for China’s economy to return to its pre-
epidemic development status? This paper aims to answer this question and conducts
an in-depth analysis of China’s national economic resilience in the face of this
unprecedented challenge. To achieve this goal, this paper begins by examining the
progression of the COVID-19 epidemic and China’s corresponding economic policies.
It then delves into the national economic resilience of China across macroeconomic,
industrial, and financial dimensions. This is achieved by analyzing the trajectory of
*Corresponding authors: economic recovery in these three dimensions following the substantial shock of
Hui Jin the pandemic. The result shows that China spent approximately 2 years to restore
(jinhui2017@zjut.edu.cn)
Jiamin Xue its macroeconomic development, industrial structure, and financial system to the
(2020333503172@mails.zstu.edu.cn) pre-COVID-19 epidemic status. This result reflects the national economic resilience
of China to some extent. Following the immense shock of the COVID-19 epidemic,
Citation: Jin, H., Xue, J., Yang, H.,
Zhu, Z., & Jakovljevic, M. (2024). China’s economy exhibited a rapid recovery, demonstrating robust national
How long has it taken China’s economic resilience. This recovery can be attributed to several factors: first, a solid
economy to recover from the economic foundation established over past decades; and second, the strategic
COVID-19 epidemic? Global Health
Econ Sustain, 2(2): 1842. policies implemented by China, including decisive epidemic management, effective
https://doi.org/10.36922/ghes.1842 fiscal measures, and adaptable monetary policy.
Received: September 15, 2023
Accepted: March 4, 2024 Keywords: COVID-19; Economic resilience; China; Macroeconomics; Case study;
Financial system
Published Online: June 6, 2024
Copyright: © 2024 Author(s).
This is an Open-Access article
distributed under the terms of the
Creative Commons Attribution 1. Introduction
License, permitting distribution,
and reproduction in any medium, Over recent decades, China’s economy has endured and ultimately overcome several
provided the original work is severe shocks, including the hyperinflation of 1989, the Asian financial crisis of 1997,
properly cited. and the international financial crisis of 2008. Despite these challenges, China has
Publisher’s Note: AccScience demonstrated a remarkable capacity for long-term sustainable economic development,
Publishing remains neutral with especially evident in the past two decades (Jakovljevic et al., 2021). Significant economic
regard to jurisdictional claims in
published maps and institutional shocks like this can challenge economies with weak foundations to return to their
affiliations. original growth paths, potentially transforming short-term shocks into a vicious cycle of

Volume 2 Issue 2 (2024) 1 https://doi.org/10.36922/ghes.1842