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(yǔ)Fran?ais
Business
Home / Business / Policies

World Bank: China's economy to grow at 8.5% following pent-up demand

By ZHAO HUANXIN in Washington | China Daily Global | Updated: 2021-06-09 10:55
Share
Share - WeChat
A photo shows a night view of the CBD area in downtown Beijing. [Photo/Agencies]

China's economic growth is expected to accelerate to 8.5 percent this year, faster than projected in January, supported by buoyant exports and release of pent-up demand amid effective control of the COVID-19 outbreak, the World Bank said in a report on Tuesday.

In addition to China, the strong rebounds from a few major economies, including the United States whose growth is projected at 6.8 percent, will propel the global economy to expand by 5.6 percent this year, the fastest post-recession pace in 80 years, according to the 2021 Global Economic Prospects.

"China is going to grow around eight and a half percent, given the size of the economy, that's a quite an impressive number," said Ayhan Kose, director of the World Bank's Prospects Group.

That growth rate represents an upward revision of 0.6 percentage point from the World Bank's January projections, which it attributes largely to expectations of stronger foreign demand.

The World Bank's sister institution, the International Monetary Fund, predicted in early April China's economy to grow at 8.4 percent this year, which is 0.3 percentage point stronger than in its January forecast.

In its analysis, the World Bank noted that COVID-19 infections remain low in China and the recovery has broadened from public investment to consumption.

It said China's goods export growth has been strong, and goods import growth has accelerated, helped by recovering domestic demand.

Chinese customs data released on Monday showed China's total imports and exports in the first five months of the year increased by 28 percent from a year earlier, reflecting an upward momentum in trade amid steady economic operation and external demand.

The authorities have recently started to shift policy efforts away from supporting activity and toward addressing financial stability risks by reducing net liquidity provision, the World Bank said.

It predicts China's growth to moderate to 5.4 percent next year, reflecting diminishing fiscal and monetary support and tighter property and macroprudential regulations.

As the only country in East Asia and Pacific whose output surpasses pre-pandemic levels, how China fares will have a bearing on the development picture of the region.

On a whole, growth in East Asia and Pacific is projected to rise to 7.7 percent in 2021, largely reflecting a strong rebound in China. Nevertheless, output in two-thirds of the countries in the region will remain below pre-pandemic levels until 2022, according to the World Bank.

The regional recovery is expected to moderate next year as China's growth is forecast to edge down toward its potential rate, noted the global lender.

"I talked about growth in emerging market economies around 6 percent; that number looks pretty strong. But if you take out China, the number goes down to close to 4 (percent), and for low income countries, growth number is going to be less than 3 percent," Kose said in an online interview.

However, the World Bank cautioned that following this year's cyclical rebound, China's economy is projected to slow over the medium term, reflecting the legacies of excessive borrowing as well as structural trends, including declining labor supply and softening productivity growth.

To bolster potential growth, China needs to pursue structural reforms that boost market-based resource allocation toward more productive activities, it said.

Globally, recovery is strong but uneven, with many emerging market and developing economies continuing to struggle with the COVID-19 pandemic and its aftermath, the World Bank said in a press release.

The US is going to deliver a record 6.8 percent growth rate, the fastest pace since mid-1980s, according to the release.

Global output will be about 2 percent below pre-pandemic projections by the end of this year, and per capita income losses will not be unwound by 2022 for about two-thirds of emerging market and developing economies, according to the World Bank report.

"While there are welcome signs of global recovery, the pandemic continues to inflict poverty and inequality on people in developing countries around the world," said World Bank Group President David Malpass.

First and foremost, expanding vaccine distribution and deployment, especially to developing countries, is a precondition to economic recovery, Malpass said.

"Globally coordinated efforts are essential to accelerate vaccine distribution and debt relief, particularly for low-income countries. As the health crisis eases, policymakers will need to address the pandemic's lasting effects and take steps to spur green, resilient, and inclusive growth while safeguarding macroeconomic stability," he said.

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: 三级视频在线播放 | 欧美综合精品 | 色片免费在线观看 | 国产欧美久久一区二区三区 | 免费观看一区二区三区毛片 | 亚洲精品美女久久久 | 欧美—级v免费大片 | 中文字幕自拍偷拍 | 日本高清免费不卡在线播放 | 欧美另类在线观看 | 国产在线观看中文字幕 | 搜一级毛片 | 欧美视频不卡 | 日本不卡在线一区二区三区视频 | 精品在线一区 | 色综合天天综合网看在线影院 | 2019偷偷狠狠的日日 | 狠狠久| 国产一区高清 | 波多野结衣中文在线观看 | 国产精品免费网站 | 日本中文字幕一区二区有码在线 | a视频在线观看免费 | 一区视频| 美女午夜色视频在线观看 | 日韩欧美一级大片 | 一级性黄色片 | 成人免费在线视频网站 | 久久九九精品一区二区 | 国产一区二区三区 | 性高湖久久久久久久久aaaaa | av 一区二区三区 | 污污成人一区二区三区四区 | 91精品国产综合久久久久久丝袜 | 91久久精品国产 | 毛片在线视频 | 欧美日韩在线一区二区三区 | 91拍拍在线观看 | 亚洲国产精品综合久久网络 | 91精品国产综合久久久动漫日韩 | 国产激情91久久精品导航 |