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Upturn in China’s economy could increase global confidence in recovery: expert

Abstract : As the world economy is fraught with risks and uncertainties, an upturn in China's economy could increase global confidence in the recovery from the COVID-19 pandemic, a German university professor told Xinhua on Tuesday.

BERLIN, March 16 (Xinhua) — As the world economy is fraught with
risks and uncertainties, an upturn in China’s economy could increase
global confidence in the recovery from the COVID-19 pandemic, a German
university professor told Xinhua on Tuesday.

“After a successful ‘turnaround’ in growth in 2020, China’s economy
is poised for an even stronger rebound in 2021 after a good start,” said
Li Yuan, professor at the Institute of East Asian Studies, University
of Duisburg-Essen.

As evidenced by various indicators of economic performance in
January-February 2021, China’s macro economy is steadily recovering, Li
said.

Indicators in the categories of investment, consumption and foreign
trade all rebound strongly, while employment and livelihood indicators
continue to remain healthy and stable, he continued.

China saw robust growth in different industries in February from a
year earlier, continuing its role of being a driver behind the global
economy under the impact of the COVID-19 pandemic.

According to data from China’s National Bureau of Statistics, the
country’s value-added industrial output, an important economic
indicator, went up 35.1 percent year on year in the first two months of
2021.

Compared with the level in the same period of 2019, the
January-February output represented a 16.9 percent growth, with an
average growth of 8.1 percent in two years, the data showed.

China has proven its ability to successfully prevent and control the
epidemic while ensuring overall economic stability, said Li, who is also
vice dean of the Institute of International Studies, Shandong
University.

“This shows that under the strong leadership of the Communist Party
of China, the Chinese economy will surely be able to sail steadily
through any major storm,” he added. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Upturn in China’s economy could increase global confidence in recovery: expert

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