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2:56 AM MYT WASHINGTON, Jan. 8 (Xinhua) China s economy is projected to expand by 7.9 percent in 2021 following 1.9 percent growth in 2020, as economic activity continues to normalize and domestic COVID-19 outbreaks remain under control, the International Monetary Fund (IMF) said Friday. The Chinese economy continues its fast recovery from the pandemic, helped by a strong containment effort and swift policy actions to mitigate the impact of the crisis, the executive board of the IMF said in a statement after concluding the annual Article IV review of the Chinese economy. Policymakers have provided financial relief and fiscal support to protect the most-affected firms while safeguarding financial stability, the IMF s executive board said, adding macroeconomic and financial policies have supported the economic recovery.
Following the devastating health and economic crisis caused by COVID-19, the global economy appears to be emerging from one of its deepest recessions and beginning a subdued recovery.