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2021 - 01 - 07
China's economy is expected to expand by 7.9 percent in 2021, nearly double the global growth rate predicted for the year, the World Bank said in its forecast on Tuesday.'Growth in China is projected to accelerate to 7.9 percent this year—1 percentage point above the June forecast—reflecting the release of pent-up demand and a quicker-than-expected resumption of production and exports,' the 189-member global lender said in a statement at the release of the 2021 Global Economic Prospects.In October, the International Monetary Fund has predicted China will reach 8.2 percent growth th...
2021 - 01 - 04
China and the European Union (EU) completed the negotiation of a comprehensive bilateral investment agreement on Wednesday. China and the EU, two of the world's major economies, launched the negotiations for the agreement in 2014.Chinese President Xi Jinping said the agreement demonstrated China's determination and confidence in promoting high-level opening up. He added that the agreement will provide the two sides with greater market access, a higher-level business environment, stronger institutional guarantees, and brighter prospects for cooperation.The announcement was made during a...
2020 - 12 - 31
Nation should refrain from premature tightening, says World Bank economistChina should ensure that it has enough policy room next year to maintain a sustainable economic recovery and ensure that short-term policies create the foundation for more balanced growth, a leading World Bank economist said on Monday.'Given the high levels of uncertainty, China needs a flexible and adaptive policy framework,' Sebastian Eckardt, lead economist for China at the World Bank, told China Daily in an exclusive interview.Responding to a question on whether the People's Bank of China, the central ban...
2020 - 12 - 28
China's central bank on Wednesday conducted 110 billion yuan (about 16.78 billion U.S. dollars) of reverse repos to maintain stable liquidity in the banking system.The amount included 10 billion yuan of seven-day reverse repos at an interest rate of 2.2 percent, and 100 billion yuan of 14-day reverse repos at an interest rate of 2.35 percent, according to the People's Bank of China.Meanwhile, 10 billion yuan of reverse repos matured on the same day, resulting in a net injection of 100 billion yuan into the market.A reverse repo is a process in which the central bank purchases securitie...
2020 - 12 - 24
China is making clear progress in its efforts to develop a more balanced and sustainable economy and society, including access to resources, emission control, protection and governance, according to a joint report, published by leading China and U.S. think tanks, including China Center for International Economic Exchanges (CCIEE), Columbia University's Earth Institute and Aliresearch.The paper looks at development indicators other than GDP and says China has seen steady economic growth since 2011 and has made significant achievements in terms of restructuring its economy and introducing en...
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