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

China expected to see 8.1% GDP growth in 2021

By Chen Jia | China Daily | Updated: 2021-04-29 07:36
Share
Share - WeChat
FAW-Volkswagen employees work on an assembly line at the automaker's Tianjin plant. [Provided to China Daily]

Nation continues to experience economic normalization as vaccinations ramp up

China's economic growth is projected to rebound to 8.1 percent this year, powered by strong exports and a gradual recovery in household consumption, despite uncertainties over the coronavirus pandemic, a report from the Asian Development Bank said on Wednesday.

Economists from the bank attributed the economic boom to the improved job market, restored consumer confidence and the release of pent-up household demand. The year-on-year GDP growth rate is projected to be 5.5 percent in 2022.

As the economy recovers, consumption will return as a primary driver of growth this year, followed by investment in the manufacturing sector, according to Dominik Peschel, head of the economics unit for the ADB resident mission in China.

The bank forecast that consumer inflation is expected to moderate to 1.5 percent this year before it recovers to 2.3 percent in 2022, due to the fall in the pork price.

In Asia, the number of new COVID-19 infections surged quickly from the prior week, with a higher number of deaths. This might have cast a shadow on the region's nascent economic recovery, said David Chao, Global Market Strategist, Asia Pacific (ex-Japan) at Invesco.

The renewed COVID-19 outbreaks show the pandemic is still a threat, which could be the biggest downside risk weighing on the generally positive outlook in Asia. The region's growth is forecast to rebound to 7.3 percent in 2021,which will moderate to 5.3 percent in 2022, the ADB's report said.

In contrast, China continues to experience economic normalization as containment efforts hold and vaccinations ramp up, according to experts.

Given the persistent economic recovery and the sound growth momentum, Teh-han Chow, Greater China CEO at Fonterra Co-operative Group, told China Daily that he sees strong consumer demand for dairy products this year, which consolidated the company's strategy to further develop the China market.

Alex Wong, China country manager of Silver Fern Farms, a leading red meat processor and market promoter in New Zealand, said the company is committed to promoting exports to China, to meet consumer demand for premium quality red meat products.

With the development of China-New Zealand trade and China's rapid economic growth, the nation has gradually become the most important international market for Silver Fern Farms.
As the ongoing pandemic-related restrictions in many regions of the world will continually fuel demand for consumer goods, China's merchandise exports are expected to outperform imports in 2021.

Meanwhile, the large stimulus plan in the United States will help to boost global demand as well as China's exports, especially for manufacturing products, ADB economist Peschel said.

This year, the People's Bank of China, the nation's central bank, will likely guide credit growth mainly through liquidity adjustments, and targeted cuts in the reserve requirement ratio remain an option to provide qualified banks with additional funds for lending, said the ADB report.

Financial stability

"Monetary policy will likely prioritize financial stability to a larger extent, especially in regard to real estate and shadow banking financing," it added.
In terms of fiscal policy, its support for the economy will likely be gradually reduced this year, and fiscal revenue is expected to improve in line with higher economic growth, the bank said.

However, potential financial risks should be prevented, especially in the banking sector, Qi Wen, associate economics and statistical analyst of the economics unit for the ADB resident mission in China, said on Wednesday.

"The country has not yet seen a notable surge in nonperforming loans, likely because the NPL recognition standards were relaxed in 2020 and the deferment of loan repayments gave banks some leeway to delay recognizing NPLs."

The ADB's report suggested that this year, in order to address potential challenges and safeguard financial stability, China's financial regulators may need to improve nonperforming loan management, consolidate the banking sector in an orderly manner and strengthen commercial banks' capitalization as the buffer to absorb shocks.

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: 久久中文字幕2021精品 | 高清一区二区 | 国产电影一区二区 | 久视频免费精品6 | 一区二区三区视频 | 久久国产精品一区 | 国产夜色福利院在线观看免费 | 精品国产成人 | 在线播放亚洲 | 99精品热| 欧美1区| 有一婷婷色 | 日本高清视频在线播放 | 四虎永久免费网站入口2020 | ab毛片 | 日韩综合色 | 欧美日韩成人网 | 成人午夜免费在线视频 | 亚洲一区二区三区在线播放 | 91短视频网址 | 亚洲影视在线观看 | 美女在线视频一区二区 | 毛片特级 | 91成人在线网站 | 精品免费国产一区二区三区 | 成人欧美一区在线视频在线观看 | 色爱阁 | 精品视频在线播放 | 欧美成人一区二区三区 | 欧美ol丝袜高跟秘书在线播放 | 欧美人成在线视频 | 亚洲欧洲在线视频 | 夜夜操网 | 99热这里有精品 | 天天草天天干天天 | 亚洲激情成人 | 欧美成人网在线综合视频 | 日本在线播放一区二区 | 精品一区二区三区免费视频 | 久久综合久色欧美综合狠狠 | 久久精品一 |