China's economic growth set to continue rebound in Q1

Release time:2021-03-25 Publisher:South Asia Development

China's economic growth is projected to continue its rebound in the first quarter and hit a new high in recent years, according to a research report on Wednesday.

The report, released by China Economist, a periodical from the Chinese Academy of Social Sciences, said the country is predicted to see around 8 percent economic growth in the first quarter of this year, and about 6 percent for the whole year.

In terms of foreign trade, 84.9 percent of the economists who participated in the survey believed export volume in the first quarter will experience a yearly increase. As for employment, 73.7 percent of economists forecast the job market will be improved in the first quarter compared with a year earlier, while 11.2 percent thought the employment will be nearly the same as last year.

Surveyed economists also predicted that the inflationary pressure will still exist, with 67.1 percent saying the first quarter will have a higher price level compared with the same period of the previous year.