CASS: China’s GDP growth to increase to 7.8 percent in 2021

CASS: China’s GDP growth to increase to 7.8 percent in 2021

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China’s economic growth is expected to increase by 7.8 percent in 2021 due to the country’s steady macroeconomic control policy and the low base of gross domestic product (GDP) for 2020 caused by the negative impact of the Covid-19 pandemic, as stated in the blueprint for the economy issued by the Chinese Academy of Social Sciences (CASS).

Lian Ping, chairman of the China Chief Economist Forum (CCEF), said that China’s GDP is expected to rise by 2-2.5 percent in 2020, with an increase of six percent in the fourth quarter of the year.

As previously reported by SteelOrbis, China’s GDP expanded by 4.9 percent and 3.2 percent year on year in the third and second quarters of the current year, respectively, recovering from a contraction of 6.8 percent in the first quarter.

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