To consolidate its post-pandemic growth momentum in 2021, China should not be in a rush to exit from expansionary fiscal and monetary policy.
BEIJING – The Chinese economy grew by 6.5 percent in the fourth quarter of 2020, providing a strong indication that it has recovered from the COVID-19 shock. The market consensus is that, due to base effects, GDP growth shot up to more than 18 percent year on year in the first quarter of 2021, and will fall steadily in the remaining three quarters of the year before finally stabilizing.
Addressing this year’s meeting of the National People’s Congress last m
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