China’s economy to grow by 8% in 2021: World Bank

CGTN | 25-Dec-2021

The World Bank has projected that China’s economy will expand by 8 percent in 2021, a downward revision of the group’s June forecast at 8.5 percent. Economic activity in the country cooled in the second half of this year after a strong rebound in the first half, the World Bank said in a report published on Wednesday.

China’s economic growth in the third quarter slowed to 4.9 percent year on year from expansion at 7.9 percent in the second quarter and 18.3 percent in first quarter. “The slowdown reflects less-favorable base effects, diminished support from exports, and the government’s continued deleveraging efforts,” the World Bank said.