• Register

Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

China maintains its goal of GDP growth despite coronavirus exposure


February, 12 2020
watermark Economic news

Deputy head of the PRC Academy of Social Sciences Cai Fan said that China will be able to achieve its long-term goal of doubling GDP and income this year, despite the consequences of the outbreak of Coronavirus. The epidemic will have only a short-term effect on the country's economy, after which demand will recover quickly, Chinese officials think. 


The economist also noted that the impact of a virus outbreak will slightly reduce growth and other development indicators, but these consequences will not be long-term. According to him, the growth rate of about 5.7% this year will be sufficient to achieve the goal of doubling GDP and income.


Cai also added that the Chinese authorities should use policy tools in a timely and flexible manner, as well as apply «non-traditional policy tools» to support the economy.


It was previously noted that the outbreak of coronavirus in 2020 could reduce China's economic growth by 1 percentage point.


Top Top