China’s economy could grow 8-9% in 2021 under ‘usual circumstances’: central bank adviser

China’s gross domestic product (GDP) could grow 8-9% in 2021 under “usual circumstances”, and by over 15% year-on-year in the first quarter, Liu Shijin, a policy adviser to the People’s Bank of China, said this week..

This would be a result of 2020’s low base, and would not mean China has returned to a “high-growth” period, said Liu. China’s economy grew 2.3% last year amid significant disruptions caused by the pandemic.

If 2020 and 2021’s average GDP growth is around 5%, this would be a “not bad” outcome, he said, speaking at an online conference.