Annual report on analysis and forecast of China’s macroeconomic situation from 2020 to 2021 From Shanghai University of Finance and Economics

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The following is the Annual report on analysis and forecast of China’s macroeconomic situation from 2020 to 2021 From Shanghai University of Finance and Economics recommended by recordtrend.com. And this article belongs to the classification: Chinese economy, research report.

At the beginning of 2020, China’s economy has experienced a precipitous decline. However, with the effective control of the epidemic, the recovery of consumption, the steady recovery of investment growth, the continuous rise of import and export growth, the sharp rise of trade surplus compared with the same period of last year, the wide two-way fluctuation of RMB exchange rate in a reasonable range, and the GDP growth of the whole year is expected 1%, becoming the only country in the major economies to achieve positive growth, and completing the task of poverty alleviation in the new era on schedule, which is hard won and demonstrates the strong resilience of China’s economy. However, the foundation for China’s economic recovery is not yet solid.

In 2021, the effective rate of new crown vaccine in the United States will reach 50%. Affected by the global spread of the covid-19 virus, the global economy will gradually recover in 2021. The Federal Reserve raised the real economic growth rate of the United States in 2021 to 4.2% at the FOMC meeting in December. The European Central Bank lowered the forecast of the economic growth rate of the euro area to 3.9% in December 2020. The economic outlook report of imf10 predicts that the real economic growth rate of Japan in 2021 will be 4.2% The real economic growth rate of the five ASEAN countries was 6.2%.

Affected by the new epidemic, the year-on-year growth rate of total retail sales of consumer goods from January to February 2020 dropped to – 20.5%. With the effective control of the epidemic situation in China, the process of returning to work and production in various industries has been accelerated, and the living order of residents has been gradually restored. Combined with the multiple stimulus policies of the central government, local governments and enterprises to activate the market and stimulate consumption, the total retail sales of social consumer goods has gradually recovered since March, with a year-on-year growth rate steadily increasing.

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