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

EconomyFeb 25, 2021 11:40PM ET
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© Reuters. General view shows the traffic during the evening rush hour in Beijing

BEIJING (Reuters) - 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.

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

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Comments (4)
Alan Rice
Alan Rice Feb 26, 2021 12:04PM ET
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"2019 business as usual"-- BIG MISTAKE.(just saying). China: You are going to N EED breatheable air, SOONER or later.Tic-toc.
David David
David9 Feb 26, 2021 1:09AM ET
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Munger also commented that China has "behaved very shrewdly" in managing its economy, which has performed better than the U.S. He added that the momentum will probably continue.
Alan Rice
Alan Rice Feb 26, 2021 1:09AM ET
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'shrewdly'-yes. 'better than US'- no. Think about it.
David David
David9 Feb 26, 2021 1:07AM ET
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Charlie Munger, vice chairman of the conglomerate Berkshire Hathaway and longtime business partner of Warren Buffett, praised China's poverty elimination success, automation and economic advancement at the annual meeting of Daily Journal Corp. on Wednesday.  "Nobody else has ever taken a big country out of poverty so fast and so long. And what I see in China now just staggers me," Munger said. 
Alan Rice
Alan Rice Feb 26, 2021 1:07AM ET
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and MUCH MORE staggering is likely to come , SOON, without Environmental Accountability . Tic-toc.
Steve Lora
Steve Lora Feb 25, 2021 11:39PM ET
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Sure they did. And im starting QB for Tampa Bay next yr
 
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