The World Bank expects China to post economic growth of 8.5%, up from previously forecasted 8.1%.
CSI 300 is down -1.17%, USDCNY is up +0.09%.
- The World Bank expects China’s growth to moderate to 5.4% next year once activity normalizes.
- The World Bank’s report is a positive sign for China’s growth, whose consumer and factory activity has hit above pre-pandemic levels.
- China’s recovery has been aided by quick vaccinations, with the country on track to vaccinate 40% of its population by summer.
- The World Bank expects the full recovery of China to be pegged on the achievement of mass inoculations against Covid-19.