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China: Robust exports to accelerate economic rebound
(MENAFN) Research by the Asian Development Bank (ADB) stated that the Chinese economy is projected to keep its rebound during the rest of this year because of China’s robust exports.
ADB reaffirmed its April estimates for China’s economic expansion, expecting that the country’s GDP will soar 8.1 percent in 2021 and 5.5 percent next year.
Net exports will add more to the country’s economic expansion this year than the bank had projected earlier, said Dominik Peschel, head of the economics unit at ADB. He added that consumption will remain the key driver for the nation’s economic expansion both this year and next year.
The bank has also reduced its inflation estimate for this year to 1.3 percent, stating that the Chinese consumer price inflation will remain well below its 2020 level.
ADB reaffirmed its April estimates for China’s economic expansion, expecting that the country’s GDP will soar 8.1 percent in 2021 and 5.5 percent next year.
Net exports will add more to the country’s economic expansion this year than the bank had projected earlier, said Dominik Peschel, head of the economics unit at ADB. He added that consumption will remain the key driver for the nation’s economic expansion both this year and next year.
The bank has also reduced its inflation estimate for this year to 1.3 percent, stating that the Chinese consumer price inflation will remain well below its 2020 level.
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