Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Asia-PacificJune 29 2021

Economic rethink needed to boost China’s growth

As China looks to expand its economy following the pandemic, returning to the previous model will not work. Changing demographics and consumer habits require new ways to boost growth. 
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Economic rethink needed to boost China’s growth

China’s economic rebound from the pandemic at first glance looks more like a giant leap. The National Bureau of Statistics (NBS) reported a 18.3% increase in gross domestic product (GDP) year-on-year for the first quarter of 2021. But beneath these numbers, the story is more nuanced.  

This year’s jump is compared to the massive decline in output seen during the first days of 2020, as the Covid-19 pandemic emerged and China’s industry ground to a halt. Looking at the results on a quarterly basis showed the year-on-year growth for the fourth quarter of 2020 was 6.5% and 2.3% for the year as a whole.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial
Kimberley Long is the Asia editor at The Banker. She joined from Euromoney, where she spent four years as transaction services editor. She has a BA in English Language and Literature from the University of Liverpool, and an MA in Print Journalism from the University of Sheffield. Between degrees she spent a year teaching English in Japan as part of the JET Programme.
Read more articles from this author