The World Bank reports that China's economic activities continue to normalize

　　China News Service, Beijing, June 29 (Reporter Liu Liang) The World Bank reported on the 29th that as economic activities continue to normalize, the scope of China's recovery has expanded.

China's economic growth is expected to reach 8.5% this year.

With the gradual reduction of the low base effect, the growth rate is expected to be 5.4% in 2022.

　　The latest World Bank's "China Economic Bulletin: Leaping Recovery-Towards Green and Inclusive Growth" pointed out that consumer and business confidence has increased, and the labor market has improved, which will support the shift from public investment and exports to domestic private consumption.

On the supply side, it is expected that the driving force of economic growth will gradually shift from industrial production to the service industry.

　　The World Bank predicts that China's economy will show strong growth in 2021.

The epidemic continues to be under control, and the economic growth rate is expected to reach 8.5% this year.

For next year, due to the reduction of the low base effect, the economy returns to the trend growth rate before the epidemic, and the growth rate is expected to slow to 5.4%.

　　The World Bank pointed out that the risks to China's economic outlook are generally balanced.

A stronger recovery in private consumption and investment, as well as an increase in the momentum of the global recovery, will support the Chinese economy to achieve stronger growth.

　　World Bank China Bureau Director Rui Ze said: “As China’s recovery is consolidated, macroeconomic policies are expected to shift from easing to more neutral. However, the pace of policy normalization should continue to be based on data, based on the recovery of China and the world. The intensity is calibrated."

　　Despite the strong momentum of economic recovery, the World Bank pointed out that China is also facing a number of medium-term challenges, including demographic problems, slowing productivity growth, high inequality and remaining social vulnerabilities, and a carbon-intensive production structure. .

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