Quarterly review of China’s economic trends and developments
China’s economy grew 2.3% in the full year of 2020 and its GDP surpassed the RMB 100 trillion mark for the first time. We expect China’s economy to continue its recovery and to grow 8.8% in 2021. Consumption and service sectors continue to improve, industrial production and manufacturing investment further accelerate for China’s economic recovery in 2021. However, as the pandemic continued to spread and new variants occurred, the pace of policy adjustment and the speed of vaccines rolling out that companies should pay attention to for next year’s economic environment.
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