CONF: China’s economic recovery faces challenges in ‘21

Source: Mysteel Dec 21, 2020 12:45

China’s economic recovery will continue to face challenges in 2021, as GDP growth will be rather high in the first quarter before subsequently easing over the year’s remaining three quarters, according to Chen Changsheng, director of Macroeconomic Research Department at China’s Development Research Center of the State Council. Moreover, the country’s high GDP growth in the near term will not be as hot as the numbers suggest because the base in 2019 was rather low, Chen noted in his presentation on December 19 at Mysteel Annual Summit.

“GDP growth in 2021 may resemble a roller coaster, with the growth in the first quarter possibly being very high, but then it may show a sharp decline in the following quarters. Also, the brief period of high growth may be largely due to the very low growth in