The World Bank predicts a further economic recovery for China and raised the growth forecast for the People’s Republic to 8.5 percent – an increase of 0.4 percentage points over the last forecast from last year. The reason given for the even better economic outlook is that both consumer confidence and business confidence have improved recently and that labor market conditions are also developing better as a result. According to the analysis, domestic demand and exports are also likely to remain positive. For the coming year, the World Bank expects growth of 5.4 percent, which would be in line with the long-term trend before the Coronavirus pandemic.
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