China's GDP growth rate in 2021 set to exceed 6%

China's GDP growth rate in 2021 set to exceed 6%
  • Clock-gray 20:24
  • calendar-gray 05 March 2021

The dynamics of the Chinese economy development in 2021 in accordance with the government plan should exceed 6%, according to a report published on Friday at the 4th session of the 13th National People's Congress, APA reports citing TASS.

For the year, the following main indicators of socio-economic development were outlined: GDP growth will be more than 6%.

Meanwhile, China's economic growth rates in 2020, against the backdrop of the negative impact of the pandemic, turned out to be the lowest in more than 40 years, amounting to 2.3%. The volume of GDP exceeded 101.59 trillion yuan (about $15.66 trillion at the exchange rate at the time of the data was published).

China's state budget deficit will amount to about 3.2% of the country's GDP in 2021.

The dynamics of the development of the Chinese economy is gradually slowing down. In 2017, it was 6.8%, and in 2018 and 2019 - 6.6% and 6%, respectively.
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