日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

IMF: China's 2020 GDP likely to double June forecast

By ZHAO HUANXIN/LI XIANG/CHEN JIA | China Daily | Updated: 2020-10-15 06:40
Share
Share - WeChat
Diners enjoy local cuisine at a scenic spot in Nanjing, on Oct 7, 2020. [Photo/Sipa]

The International Monetary Fund has predicted that China's economy will expand by 1.9 percent this year, nearly double the rate forecast in June, and the country is expected to continue to lead the global economic recovery with robust production and a solid services sector rebound, economists said on Wednesday.

China continues to be the only major economy to show positive growth in 2020 and its GDP growth is expected to reach 8.2 percent next year, according to the World Economic Outlook released by IMF on Tuesday.

The projection came as China is expected to release its third quarter economic data next week.

Some economists have forecast that China's GDP growth rate is likely to pick up to above 5 percent following a strong rebound of 3.2 percent in the second quarter.

The IMF projected in its latest report that global growth is likely to contract by 4.4 percent in 2020, a "less severe" scenario than projected at the end of the second quarter. The organization also said that the United States will see a 4.3 percent contraction in its GDP this year, compared with an 8 percent contraction forecast in June.

But the US rebound in 2021 is expected to be 3.1 percent, 1.4 percentage points below the earlier projection.

"We are projecting a somewhat less severe though still deep recession in 2020, relative to our June forecast," the IMF said in its latest quarterly forecast.

"The revision is driven by second quarter GDP outturns in large, advanced economies, which were not as negative as we had projected; China's return to growth, which was stronger than expected; and signs of a more rapid recovery in the third quarter," it said.

In its June World Economic Outlook update, the IMF projected China's economy would grow by 1 percent. In the October forecast, it said GDP results for the second quarter were better than expected in China, where, after lockdowns eased in early April, public investment helped boost activity to return to positive growth in the second quarter.

China's GDP expanded 3.2 percent year-on-year in the second quarter, reversing a contraction of 6.8 percent in the first quarter, according to the National Bureau of Statistics.

The IMF is not the only international organization that has raised its forecast for China. The World Bank said in its latest report that China's economy is expected to grow by 2 percent in 2020, up from the 1 percent growth projection released in June. Other rating agencies have also revised up their forecast on China's GDP growth this year, to 1.9 percent for Moody's and 2.7 percent for Fitch. The two agencies expected China to be the only major economy to see growth expansion this year.

The Foreign Ministry said on Wednesday that the steady recovery of the Chinese economy and the country's full resumption of production have helped stabilize global supply chains and effectively boosted global demand. China will continue to build an open economy and is willing to boost economic policy coordination with other countries to contribute to stabilization and recovery, the ministry said.

Economists at Standard Chartered Bank said that China's GDP growth in the third quarter is likely to have risen to 5.5 percent year-on-year. "Following a V-shaped rebound in Q2, led by the manufacturing sector, growth sustained momentum in Q3 as the services sector caught up. The purchasing managers subindex for services climbed to 55.2 in September, the highest reading since June 2012," they said in a research note.

"Pent-up demand boosted domestic tourism, supporting the catering and accommodation sectors. Supportive measures helped to stabilize the labor market, boosting consumer confidence," they added.

The Brookings Institution, in an update to its Tracking Indexes for the Global Economic Recovery published on Sunday, also said China has led the global recovery, with both the industrial and services sectors revived, and many indicators of economic activity already above pre-COVID levels.

The IMF's latest report said that global trade began recovering in June as lockdowns were eased, with China being an important contributor.

Zhu Min, head of Tsinghua University's National Institute of Financial Research and a former deputy managing director of the IMF, said that China is expected to be the only country to have positive GDP growth this year, and for the next two years the country is likely to maintain a growth rate of 10 percent compared with the base in 2019. He added that China will increase its contribution to global economic growth, which could potentially further change the global economic structure.

The senior economist warned that uncertainties of global economic growth are increasing as some countries begin experiencing the second wave of COVID-19 infections recently. He noted that many countries have exhausted their stimulus packages of fiscal and monetary measures, and facilitating an economic recovery will be challenging in the next step.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 色综合久久婷婷天天 | 亚洲人影院 | 久久久免费视频观看 | 日本高清免费不卡在线播放 | 亚洲综合在线视频 | 日本高清免费h色视频在线观看 | 五月天国产视频 | 亚洲AV久久无码精品九号 | 午夜视频1000 | 日韩免费网站 | 日本精品在线观看 | 国产精品久久久AV久久久 | 亚洲一区二区三区在线免费观看 | 日韩成人av在线播放 | 日韩 欧美 综合 | 特黄做愛又硬又大A片视频 小视频在线看 | 亚洲视频区| com.色.www在线观看 | 亚洲精品第一国产综合高清 | 精品人妻无码一区二区三区手机板 | 欧美精品1区2区 | 国产成人精品免费久久久久 | 国产成人免费 | 97色伦色在线综合视频 | 久久aⅴ乱码一区二区三区 日韩精品一区二区在线观看 | 久久中文视频 | 91涩涩视频 | 黄工厂精品视频在线观看 | 成人在线小视频 | 欧美白人黑人xxxx猛交 | 一级一级毛片免费看 | 国产精品外围在线观看 | 色综合亚洲色综合久久网张柏芝 | 国产精品色在线网站 | 激情亚洲综合网 | wankzhd| 欧美视频第二页 | 天天干天天射天天操 | 亚洲国产成人在线 | 免费观看黄的小视频 | 欧美二区视频 |