China’s GDP growth to reach 8-9 percent in 2021

Wednesday, 30 December 2020 12:20:41 (GMT+3)   |   Shanghai

Tsinghua University has issued its macroeconomic analysis and forecast for China, stating that China’s gross domestic product (GDP) will likely increase by 2.1 percent in 2020 due to the negative impact of the Covid-19 pandemic at the beginning of the year, while China’s GDP is expected to rise by eight to nine percent in 2021.

However, the Covid-19 pandemic will bring a high degree of uncertainty to China’s economic development, while GDP will indicate strong growth in the first part of 2021, though indicating slower growth in the latter part of the year. In particular, China’s GDP growth will likely reach 16 percent to 19 percent in the first quarter of 2021.

Moreover, Tsinghua University has forecast that the year-on-year growth of China’s exports will reach six percent in 2021. In addition, fixed asset investment (FAI) growth will likely reach six percent. In particular, FAI in the manufacturing industry will be 10 percent, while FAI in infrastructure and real estate will be around four percent.

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