World Bank: China’s economic recovery is faster than expected but not yet balanced |

Original title: World Bank: China’s economic recovery is faster than expected but not yet balanced

worldBank(World Bank) The December 2020 edition of the China Economicinstructions： From recovery to rebalancing, ”he said that he benefited from effective epidemic prevention and control strategies, strong policy measures and vigorousTo exportAfter the sharp decline in China’s economic activity in the first quarter of 2020, it has normalized at a faster rate than expected, but the pace of recovery is uneven and the recovery in domestic demand is slower than that of the production.consumptionRecovery is slower thaninvestment。

　　reportChina’s economic growth is projected to slow to 2% in 2020. In 2021, as consumers andcompanyGreater confidence andworkstrengthmarketsituationto get better, Economic activity expanded toPrivate investmentAnd consumption, the growth rate will rebound to 7.9%.

The World Bank believes that the downside of China’s economic recovery is that the global environment is expected to continue to be challenging and highly uncertain. Ongoing tensions in bilateral relations with major trading partners on trade and technology issues will pose risks to continued recovery. It was the impact of the new corona pneumonia epidemic and the subsequent recovery that caused the reappearance of external imbalances. On the positive side, the rapid and large-scale introduction of effective vaccines will boost consumer and business confidence and support stronger growth.

worldBankChina Office Director Rui Ze said: “The global environment remains highly uncertain, requiring an adaptable policy framework. Premature withdrawal of policy support and excessive tightening may derail the recovery.financialThe exit from support should be gradual, but the focus should shift from traditional infrastructure to scalesocietyExpenses andGreen investment。 “

The World Bank believes that market-orientedStructural reform, Complemented with the promotion of economic rebalancing to expand domestic demand, especially consumptionFiscal policyIt will help prevent a further decline in the potential growth rate, reduce external imbalances, and lay the foundation for building a more resilient and inclusive economy. Promote a broad baseHousehold incomeGrowth to soundSocial SecurityOrganize and increase access to qualityPublic serviceChina’s future growth will be more inclusive and support the rebalancing process towards consumption, even further relaxing the household registration system.

worldBankChief of ChinaeconomistIkasi said: “To move the economy from investment to innovation andServiceTo rebalance the growth drive model, China must harness the growth potential of its more developed and innovative metropolitan areas and urban agglomerations. This shift must be coordinated with fiscal policies to ensure that residents outside of coastal cities and provinces are served more equitable audiences and increasehuman capitalinvestment. “

(Source: Economic Reference Network)

(Editor-in-charge: younannan)