World Bank expects China's economic growth to rebound to 7.9% in 2021
2020-07-30 17:32:14 [Print]
The World Bank published "China Economic Update" on 28 July, which said that the COVID-19 has a great impact on China's economy, but the economic recovery after the outbreak has provided China with the opportunity to promote economic rebalancing and achieve more inclusive, sustainable and green growth.
According to the Update, affected by the epidemic, the global economy is expected to shrink sharply this year, and more than 90% of emerging markets and developing economies will experience a drop in per capita income. Despite unprecedented stimulus policies from major economies, the world still faces clear downside risks. According to the baseline forecast, China's economic growth will slow down to 1.6% this year and rise to 7.9% in 2021.
According to the Update, affected by the epidemic, the global economy is expected to shrink sharply this year, and more than 90% of emerging markets and developing economies will experience a drop in per capita income. Despite unprecedented stimulus policies from major economies, the world still faces clear downside risks. According to the baseline forecast, China's economic growth will slow down to 1.6% this year and rise to 7.9% in 2021.
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