CAS: China’s GDP growth to reach 8.5 percent in 2021

The Chinese Academy of Sciences (CAS) has forecast that China’s gross domestic product (GDP) will likely rise by 8.5 percent in 2021 as it thought that China’s economy will see a rapid recovery amid effective control of the Covid-19 pandemic with the help of large-scale vaccinations. In particular, China’s GDP is foreseen to increase by 16.3 percent, 7.3 percent, 6.3 percent and 5.9 percent year on year in the first, second, third and fourth quarters of 2021, respectively.