The BOC Research Institute, established by Bank of China Ltd, expects China's GDP to grow by around 7.5 percent on a yearly basis in 2021, up from around 2.1 percent expected this year.
Looking ahead, infrastructure and real estate investment will maintain rapid growth, promoting continuous economic recovery. It is estimated that fixed asset investment will increase by 6.5 percent next year－especially infrastructure investment in key projects and fields, including transport, energy and water projects, as well as investment in "new infrastructure" projects, such as 5G, big data centers and artificial intelligence. At the same time, investment in the manufacturing sector will continue to recover, and its growth may turn positive next year, said a report released by the BOC Research Institute on Monday.
(...) Total retail sales of consumer goods, which have become an important driver of economic growth, are estimated to increase by around 10 percent in 2021, compared with a projected decline of 4.4 percent this year, said the report from the BOC Research Institute.
Source China Daily