AMRO’s 2020 Annual Consultation Report on China
China’s economy has recovered strongly from the downturn brought about by the COVID-19 pandemic.
China’s economy has recovered strongly from the downturn brought about by the COVID-19 pandemic.
After the COVID-19 pandemic inflicted a sharp contraction in the first quarter of 2020, China’s economy has shown remarkable resilience and staged a strong comeback. Effective containment measures, sound macro fundamentals, strong solidarity among the people, as well as decisive and targeted policy measures are factors that set the swift recovery in motion.
Ahead of China’s annual legislative session (or Two Sessions) in early March, AMRO Director Toshinori Doi gave an interview to Chinese broadcaster, CCTV, on some of the country’s key macroeconomic issues.
In an interview with CCTV, AMRO Director Toshinori Doi provided a soundbite on China’s poverty alleviation efforts.
Ensuring financial support for micro and small enterprises (MSEs) is a complex challenge, especially so during a crisis.
China was the first epicenter of the COVID-19 virus outbreak and subsequently, its economy was hit severely by the pandemic. Notwithstanding, all the economic forecasts for China now point to positive growth for 2020, with the strong recovery momentum continuing into 2021.
China’s economy has staged a strong recovery following its successful containment of the COVID-19 pandemic. At the height of the pandemic, the Chinese Government took a series of decisive and forceful containment measures, including locking down the economy, where needed.
AMRO projects the country’s 2020 growth rate to moderate to 5.6 percent from 6.1 percent in 2019, with a sharp but short-lived downturn due to the outbreak of COVID-19.
The Chinese economy is expected to remain resilient in the face of challenging conditions stemming from a global economic slowdown, the U.S.-China trade tensions, the country’s financial deleveraging process, and the recent COVID-19 outbreak.
The recent outbreak of a novel coronavirus (COVID-19) in Hubei province, China, is expected to have a marked impact on China’s economy.