GDP expected to grow at 6.1% in 2020
China’s GDP is predicted to grow at around 6.1 percent in 2020, which will be slightly lower than that of 2019, according to Center for Forecasting Science (CEFS) under the Chinese Academy of Sciences on Wednesday.
Consumption, investment, and net exports will contribute 4.4, 1.4, and 0.3 percentage points, respectively, to the GDP growth rate in 2020, CEFS said.
The center said consumption will continue to grow in 2020 with a nominal annual growth rate of 7.3 percent.
CEFS forecasts that investment growth rate will fall between 5 percent and 5.2 percent in 2020.
It predicts total imports and exports will reach $4.7 trillion, up 2.2 percent year-on-year. Exports are forecast to increase 1.9 percent year-on-year to $2.5 trillion, while imports are predicted to grow 2.7 percent year-on-year to $2.1 trillion.