China forecast to grow 2% this year and rebound 7,9% in 2021

China forecast to grow 2% this year and rebound 7,9% in 2021: exports' boom


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In November exports jumped 21.1% year-on-year, stronger than October's rate of 11.4%. November's exports reached a record high of US $268 billion
Economic growth in China is expected to slow to 2% this year, before rebounding to 7.9% in 2021 as private investment and consumption heat up, a World Bank report released on Wednesday projected.
Following a sharp decline in the first quarter of 2020, economic activity in China has normalized faster than expected, aided by an effective pandemic-control strategy, strong policy stimulus and buoyant exports, said the report, “From Recovery to Rebalancing,” the December 2020 edition of the World Bank's China Economic Update.
Customs data showed that China's exports continued on an upward trend, hitting record levels in November, offering fresh evidence of the world's second-largest economy's solid recovery from the COVID-19 pandemic that continues to ravage the world.

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