business

China’s economy to grow by over 7 pct in 2021: Credit Suisse

GENEVA, Jan. 21 (Xinhua) — China’s economic growth will increase to over 7 percent in 2021, Swiss bank Credit Suisse has predicted.

China’s economy will remain strong in the first quarter of 2021, and consumption is expected to become the main driving force of China’s economic growth in the next few years, the Swiss bank said in an online media conference on China’s market outlook for 2021 held on Monday.

As the world’s only major economy to post positive growth in the pandemic-shadowed year 2020, China saw its gross domestic product exceeding the 100-trillion-yuan threshold for the first time in 2020.

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