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SEOUL, April 21-- China's economy is expected to recover in the second quarter after shrinking in the first quarter amid the COVID-19 pandemic, experts said Tuesday. "China rapidly responded to the COVID-19 outbreak with fiscal and monetary stimulus packages, leading to a rapid rebound in the financial market," Piao Renjin, an analyst at NH Investment & Securities in Seoul, told Xinhua. "The Chinese government is forecast to expand fiscal and monetary stimulus measures... You can see a recovery in China during the second quarter," said the analyst. China's gross domestic product (GDP) contracted 6.8 percent year on year in the January-March quarter amid the economic fallout from the coronavirus pandemic, according to data released by China's National Bureau of Statistics. Despite the shrinkage, China is expected to be one of the few major economies that could see economic growth this year, according to the International Monetary Fund (IMF)'s recently released World Economic Outlook report, which predicted the global economy would decline 3 percent in 2020. China's economy is forecast to expand 1.2 percent this year, while the U.S. economy and the Euro Area are predicted to dive 5.9 percent and 7.5 percent, respectively, according to the report. Advanced economies are on track to plummet 6.1 percent, while emerging market and developing economies are set to fall 1 percent, it added. "China's export depends mainly on the European Union (EU) and the United States. The full-blown upturn of China's economy can be seen when the economies of the EU and the United States recover," Han Jae-jin, a manager of the global emerging markets team at Hyundai Research Institute in Seoul, told Xinhua. | 
