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China's economic growth to exceed 7% in 2021 - Credit Suisse bank

Asia / Business and Finance

In 2020, China's gross domestic product grew by 2.3%, according to data from the State Statistical Office of the PRC. This is the lowest growth rate since 1976.

China's economic growth to exceed 7% in 2021 - Credit Suisse bank

The Swiss bank Credit Suisse predicts that China's economic growth will exceed 7 percent in 2021.

China's economy will remain strong in the first quarter of 2021 and consumption is expected to become the main driver of the country's economic growth in the next few years, the Swiss bank said at an online media conference on China's 2021 market outlook and on Monday.

China is the only major economy in the world to see positive growth in 2020 amid the novel coronavirus (COVID-19) pandemic. China's GDP exceeded 100 trillion yuan for the first time in 2020.

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