China’s economy to grow 8.1% in 2021: ADB report

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    According to the Asian Development Bank (ADB)’s new report, economic growth in developing Asia is set to rebound to 7.3 percent this year even as COVID-19 lingers.

    Yasuyuki Sawada, chief economist of the ADB, said that China is the main driver of Asia’s economic recovery, and the ADB predicts that China’s growth rate will rebound to 8.1 percent this year.

    Of the potential areas of risk or challenge to China’s economy, he said one is in the Chinese financial system and the other is the political tensions between China and the United States. “The Biden administration did not signal sweeping changes in the trade relationship with China, so I think this U.S.-China trade conflict will continue,” he said.

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