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todayonline - 2 month ago

China s economy could grow 8-9% this year from low base in 2020 - central bank adviser

BEIJING - China s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the People s Bank of China, said on Friday. This speed of recovery would not mean China has returned to a high-growth period, said Liu, as it would be from a low base in 2020, when China s economy grew 2.3%. Analysts from HSBC this week forecast that China would grow 8.5% this year, leading the global economic recovery from the pandemic. If 2020 and 2021 s average GDP growth is around 5%, this would be a not bad outcome, said Liu, speaking at an online conference. China is set to release a government work report on March 5 which typically includes a GDP growth target for the year. Last year s report did not include one due to uncertainties caused by the coronavirus. Reuters previously reported that 2021 s report will also not set a target. REUTERS


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