AEIR 2021

People’s Republic of China

Economic growth slowed to 2.3% in 2020 from 6.0% in 2019. On the demand side, investment was the main driver, contributing 2.2 percentage points. Consumption reduced growth by 0.5% in 2020 after contributing 3.5% in 2019, in line with the drop in household consumption and retail sales. On the supply side, services remained the main contributor to growth contributing 2.1 percentage points in 2020, down from 5.1% in 2019. Economic growth is forecast at 8.1% in 2021 and 5.5%. in 2022 as household consumption continues to recover. On the supply side, hospitality, recreation, and tourism is expected to rebound as more people are vaccinated.

Source: Asian Development Outlook 2021.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 3.0 (Oct21)3.0 3.0
Broad Money Growth 2 8.3 (Sep21)8.3 8.2
Headline Inflation Rate 3 0.7 (Sep21)0.8 1.7
Industrial/ Manufacturing Production Growth Rate 3 3.1 (Sep21)5.3 6.9
Merchandise Export Growth 3 27.5 (Sep21)27.5 25.1
Exchange Rate Index 4 79.6 (Oct21)80.1 83.4
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; CEIC Database.

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