China News Agency, Seoul, February 12th (Liu Xuwan Jiaxin) On the 12th local time, the Korea International Trade Association (KITA) International Trade and Commerce Research Institute published the "Analysis Report on the Impact of China's Economic Restart on the Korean Economy" (hereinafter referred to as the "Report") ).
The report pointed out that after China resumed various economic activities, South Korea's economic growth and export trade are expected to get rid of the downturn and gradually improve from the second quarter of this year.
The report pointed out that although the current global economy is sluggish, as China relaxes epidemic prevention restrictions, major economic institutions in the world have raised their economic growth forecasts for China this year.
The report predicts that China's economic growth rate this year is expected to be 2.1 percentage points higher than last year (3%), reaching 5.1%.
The report pointed out that under the stimulus of various support policies of the central and local governments, China's economy is expected to officially recover from the second quarter.
South Korea's real gross domestic product (GDP) is expected to rise by 0.16 percentage points by then, which is equivalent to 10% of South Korea's economic growth forecast for this year (1.6%-1.7%).
The overall export scale is expected to increase by 0.55 percentage points, which is equivalent to about one-third of the increase in South Korea's overall export scale (1.8%) last year.
Jiang Nairong, the author of the report and chief researcher at the Korea International Trade Association, emphasized that South Korea should actively enter the Chinese domestic market, and it is necessary to make full use of the "Regional Comprehensive Economic Partnership Agreement" (RCEP) to leverage China's economic recovery to create more export opportunities.
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