05 March, 12:11
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China estimates GDP 2021 over 6%, inflation around 3%
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
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The opening session of the National People's Congress (NPC) in Beijing © ANSA
(ANSA) - BEIJING, MARCH 05 - After + 2.3% growth in 2020, China is aiming for a strong rebound after the Covid-19 epidemic crisis, aiming for an expansion of over 6% per year in 2021 with more efforts on reform, innovation and high-quality development.
The government expects a budget deficit of 3.2% of gross domestic product, Leen added in his speech, a basic balance of payments balance, solid income growth and a sharp increase in both volumes and quality of imports.
The Chinese economist was the only major in the world to expand last year, aided by central bank liquidity injections to support businesses, extra fiscal spending on infrastructure, and rapid coronavirus outbreak control nationwide.
According to the projections of several business banks, including Nomura, the new coronavirus crisis has put Beijing in a position to overtake the US early, by 2028, two years ahead of schedule.
In its latest January forecasts, the IMF estimated China's growth for 2021 to be 8.1%.
Alongside that recovery, the economy has accumulated debt and has seen concerns over asset bubbles rise, fueling expectations of a tightening of monetary and fiscal stimuli mobilized to counter the pandemic.
This year's meeting of the National People's Congress, chaired by President Xi Jinping, will last a week with three plenary sessions, featuring above all the new five-year plan covering 2021-25 and the 15-year strategic program up to 2035. Some of the key objectives already outlined they include strengthening consumer demand, investing in hi-tech industries, and long-term challenges such as population aging.
(HANDLE).
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