久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Asia-Pacific

Economists expect Chinese GDP to grow 10 pct in 2021

Xinhua | Updated: 2020-12-10 09:00
Share
Share - WeChat
Tourists shop at a duty-free shopping mall in Sanya City, south China's Hainan province, Oct 5, 2020. [Photo/Xinhua]

NEW YORK -- China's gross domestic product (GDP) would increase 10 percent and its economy would continue to be a global outperformer in 2021 while Chinese central bank will start to hike lending rates next year, according to a recent research note by international economic research firm Capital Economics.

Chinese GDP would expand 10 percent in 2021, higher than the current market consensus of 7.9 percent, thanks to tailwind from fiscal stimulus, rebound in consumption and services, accelerating income growth and flattering base effects, said the note.

"Looking ahead, while the analyst consensus has turned more upbeat in recent months, we think there is still room for further upside surprises," said Julian Evans-Pritchard, senior China economist, and Mark Williams, chief Asia economist with Capital Economics.

Capital Economics forecasted that Chinese GDP would increase 2.5 percent in 2020 in comparison to analyst consensus of 2 percent.

The economists said China's domestic drivers of growth will stay strong in the near term while the recent strength of exports will start to unwind amid vaccine rollouts in developed markets.

A surge in savings rate earlier 2020 means Chinese households have plenty of room to step up spending as confidence improves, said Evans-Pritchard and Williams.

China's economic output in the fourth quarter of 2020 is on track to be higher than Capital Economics' forecast a year ago and the economic output would remain above trend for much of 2021, according to the note.

Meanwhile, the economic strength will pave the way for some policy tightening next year with focus to be shifted back to controlling the rapid growth in government debt, said Capital Economics.

China's central bank will start to hike the rates on its lending facilities in 2021 and modest policy rate hikes would largely just be formalizing a shift in monetary conditions which has already happened, said the note.

"This policy reversal is unlikely to derail the recovery and we expect China's economy to remain a global outperformer next year," the economists said.

Chinese currency RMB is expected to appreciate further in 2021 and China's continued economic growth should pave the way for further rises in onshore and offshore equities, according to the note.

Chinese equity benchmark CSI 300 Index would rise to 5,700 points by the end of 2021, up from the close of 4,942.7 points on Wednesday, according to the firm.

However, Chinese economy faces some important downside risks from the property sector and credit markets, said Evans-Pritchard and Williams.

China's economic growth would slow down to 4 percent to 5 percent by the end of 2021 and the appreciation of RMB would level off, the note added.

Meanwhile, the yield of 10-year China government bond was forecasted to decline to 2.8 percent from over 3.3 percent on Wednesday as China's bond market would start to price in slower medium-term growth and lower equilibrium interest rates.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 久久国产精品自线拍免费 | 亚洲精品区一区二区三区四 | 一区二区三区免费在线视频 | 99久久免费看精品国产一区 | 玖草在线 | 国产欧美一区二区三区视频 | 欧美a在线 | 在线精品国产一区二区 | 在线免费亚洲 | 欧美一级毛片在线看视频 | 草草影院在线观看 | 亚洲视频在线观看网址 | 久久精品中文字幕免费 | 日本高清在线不卡 | 中文字幕一区二区三区在线观看 | 香蕉成人国产精品免费看网站 | 日韩欧美国产精品第一页不卡 | 亚洲免费网址 | 欧美精品一区二区三区免费观看 | 日韩一级a毛片欧美一级 | 真正免费一级毛片在线播放 | 嫩草一区二区三区四区乱码 | 波多野结衣一区二区三区在线观看 | 91久久香蕉国产线看观看软件 | 黄色三级在线 | 国产v片成人影院在线观看 国产v片在线播放免费观 | 免费国产午夜高清在线视频 | 国产成人三级 | 久久精品国产亚洲综合色 | 国产粗大猛烈18p | 在线观看国产一区二三区 | 一级a爰片久久毛片 | 国产成人夜间影院在线观看 | 午夜毛片不卡高清免费 | 国产成人精品999在线 | 一二三区视频 | 久久成人a毛片免费观看网站 | 精品手机在线视频 | 手机看成人免费大片 | 99午夜高清在线视频在观看 | 成人精品一区二区久久 |