China GDP: economy grew by 4.9 per cent in third quarter of 2020 China’s growth picks up from 3.2 per cent in the second quarter and a contraction of 6.8 per cent in the first quarter of 2020 Subscribe to our weekly newsletter to get them delivered straight to your inbox! BEIJING, Oct 27 (Reuters) - China's economy is expected to grow at its weakest pace in over four decades even as it steadily recovers from a coronavirus-induced dive earlier this year, but overall output could rebound sharply in 2021, a Reuters poll showed. The world's second-biggest economy is now expected to expand by 2.1% in 2020, according to the median of 37 analysts surveyed by Reuters, down slightly from the 2.2% growth projected in the last poll in July. Love, Lust, Caution: Centennial Celebration of the Cross-Cultural Legacies of Eileen Chang. Analysts expect China will keep its one-year loan prime rate (LPR) steady at 3.85% until the end of 2021. Support quality journalism in China. Update: China’s GDP Returns to Growth With 3.2% Gain in Second Quarter, Participation of Indian Prime Minister Narendra Modi in the 5th Eastern Economic Forum Discussed in Moscow, Get exposure for your startup at RISE 2020, CreditEase’s Tang Ning: China’s Wealth Management Market is Undergoing Five Major Shifts, Meet 5 of the best startups selected to represent China at the largest technology event in Asia. Or Trump? The People’s Bank of China (PBOC) will continue to focus on supporting small and midsize enterprises, which is its priority, through offering them loans by providing commercial banks with liquidity and incentives, Yi said at the International Banking Seminar of the Group of Thirty, an independent body comprising economic and financial leaders around the globe. Twenty offered projections for annual GDP, while 21 made predictions for the third quarter. Obama, warned of this in a New York Times op-ed. While the central bank stepped up policy support after widespread travel restrictions choked economic activity, it has more recently held off on further easing. Wall Street Slumps on Rising Virus Cases, Fading Stimulus Hopes, Consumer confidence falls in U.S. swing states ahead of presidential election, Regeneron to stop enrolling very sick COVID-19 patients in antibody trials, EMERGING MARKETS-Brazil real falls on weak consumer confidence; Latam FX logs weekly gains, var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /^([^@\s]+)@((?:[-a-z0-9]+\. Economists Lift China’s 2020 GDP Growth Forecast to 2.37%, Yicai Survey Shows. The gauge ofconfidence in China’s economy stood at 52.63, compared with a reading of 52.23 last month and August’s 52.85. The global economic impact has been huge. China's economy is expected to grow at its weakest pace in over four decades even as it steadily recovers from a coronavirus-induced dive earlier this year, but overall output could rebound sharply in 2021, a Reuters poll showed. © 2020 USC US-China Institute. Source: Xinhua. What’s the background: China’s GDP grew 4.9% year-on-year in the third quarter of 2020 following pandemic lockdowns, accelerating from 3.2% growth the previous quarter, official data (link in Chinese) showed Monday. "Growth momentum should peak in the first half of 2021, though base effects will confuse the data readings.". )+[a-z]{2,})$/i, failureMessage: "A valid email address is required"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom11 = document.querySelector('#form1783 #field11');var field11 = new LiveValidation(dom11, {validMessage: "", onlyOnBlur: false, wait: 300});field11.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. Markets Will Stay Choppy in Short-Term: Robeco’s Fedeli, BlackRock’s Hildebrand: Hardest Part of Recovery Ahead of Us, #TradeTalks- Trends in Retail Trading and the Impact It Has to the Market. For other stories from the Reuters global economic poll: ), (Polling by Shaloo Shrivastava and MD Manzer Hussain in Bengaluru and Jing Wang in Shanghai; Reporting by Kevin Yao Editing by Shri Navaratnam), ((kevin.yao@thomsonreuters.com; +8610 5669 2128;)). Leading international scholars from USC, Duke University, and Chinese University of Hong Kong will discuss Eileen Chang’s writing, films adapted from her novels, art, fashion and more. Saturday Long Read - A Fugitive Businessman’s High-Profile Bet in Myanmar, Gallery: Tibetan Palace Gets Annual Facelift, Semiconductor Tech Trends Favor China in the Long Term, Cover Story: A Fugitive Businessman’s High-Profile Bet in Myanmar, Financial Sector Should Avoid ‘Wrong Paths’ of Speculation, Bubbles and Ponzi Schemes, Vice President Says, Analysis: Jack Ma Needs a Refresher on How Financial Regulation Works. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? China's economy fell dramatically in the spring (its worst performance in decades), but its use of mandatory testing, quarantine policies, and city-wide lockdowns has allowed it to reopen earlier and more completely than the U.S. China has experienced small outbreaks in recent months, but had just 16 new cases yesterday while the U.S. had 60,315. POLL-China's economic growth seen hitting 44-year low in 2020, bounce 8.4% in 2021, Stocks Are Falling For 2 Reasons, But The End Is In Sight, Weekly Preview: Stocks To Watch (AAPL, AMD, AMZN, FB, GOOG, MSFT). The PBOC has kept it untouched at 1.5% since October 2015. Its GDP for the first three quarters grew 0.7% year-on-year. Copyright © 2019 Caixin Global Limited. Related: China GDP Grew 4.9% in Third Quarter, Contact editor Marcus Ryder (marcusryder@caixin.com). Print. However, their average forecast for total social financing was CNY3.06 trillion, down from CNY3.58 trillion in August. ICP备案(增值电信业务经营许可证 沪B2-20050348号 互联网视听节目服务(AVSP):沪备2014002 沪ICP备14015572号-8 沪公网安备31010602000015号). The global economic impact has been huge. 2.7% from the previous year, slowing from a 2.9% rise in 2019. GDP Annual Growth Rate in China averaged 9.23 percent from 1989 until 2020, reaching an all time high of 15.30 percent in the first quarter of 1993 and a record low of -6.80 percent in the first quarter of 2020.
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