China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda

Economic conditions in China have changed dramatically over the past six months. The COVID-19 pandemic and measures taken to contain it have triggered a combined demand and supply shock. The report projects that economic growth in China will slow sharply to 1.6 percent this year–marking the slowest...

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Main Author:	World Bank
Format:	Report
Published:	World Bank, Washington, DC 2020
Subjects:	CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK ECONOMIC GROWTH CONTRACTION ECONOMIC RECESSION ECONOMIC RECOVERY TRADE LABOR MARKET CREDIT RISK FISCAL TRENDS DEBT BURDEN ECONOMIC OUTLOOK MACROECONOMIC MANAGEMENT DISTRIBUTIONAL IMPACT UNEMPLOYMENT
Online Access:	http://hdl.handle.net/10986/34264

id	okr-10986-34264
recordtype	oai_dc
spelling	okr-10986-342642021-05-25T09:52:35Z China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda World Bank CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK ECONOMIC GROWTH CONTRACTION ECONOMIC RECESSION ECONOMIC RECOVERY TRADE LABOR MARKET CREDIT RISK FISCAL TRENDS DEBT BURDEN ECONOMIC OUTLOOK MACROECONOMIC MANAGEMENT DISTRIBUTIONAL IMPACT UNEMPLOYMENT Economic conditions in China have changed dramatically over the past six months. The COVID-19 pandemic and measures taken to contain it have triggered a combined demand and supply shock. The report projects that economic growth in China will slow sharply to 1.6 percent this year–marking the slowest expansion since 1976–before rebounding to 7.9 percent in 2021. Even as economic activity rebounds, the pace of China’s poverty reduction is expected to slow, reflecting slower growth in household incomes. Without additional policy measures, 8-20 million fewer people are projected to escape poverty in 2020, compared to pre-pandemic projections. While risks to China’s economic outlook are exceptionally high, they can be partially mitigated by a forward-looking recovery strategy supported by good policies. The recovery offers an opportunity to accelerate China’s progress in rebalancing its economy toward more inclusive, sustainable, and greener growth. 2020-07-31T13:32:33Z 2020-07-31T13:32:33Z 2020-07 Report http://hdl.handle.net/10986/34264 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific China
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK ECONOMIC GROWTH CONTRACTION ECONOMIC RECESSION ECONOMIC RECOVERY TRADE LABOR MARKET CREDIT RISK FISCAL TRENDS DEBT BURDEN ECONOMIC OUTLOOK MACROECONOMIC MANAGEMENT DISTRIBUTIONAL IMPACT UNEMPLOYMENT
spellingShingle	CORONAVIRUS COVID-19 PANDEMIC IMPACT ECONOMIC SHOCK ECONOMIC GROWTH CONTRACTION ECONOMIC RECESSION ECONOMIC RECOVERY TRADE LABOR MARKET CREDIT RISK FISCAL TRENDS DEBT BURDEN ECONOMIC OUTLOOK MACROECONOMIC MANAGEMENT DISTRIBUTIONAL IMPACT UNEMPLOYMENT World Bank China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda
geographic_facet	East Asia and Pacific China
description	Economic conditions in China have changed dramatically over the past six months. The COVID-19 pandemic and measures taken to contain it have triggered a combined demand and supply shock. The report projects that economic growth in China will slow sharply to 1.6 percent this year–marking the slowest expansion since 1976–before rebounding to 7.9 percent in 2021. Even as economic activity rebounds, the pace of China’s poverty reduction is expected to slow, reflecting slower growth in household incomes. Without additional policy measures, 8-20 million fewer people are projected to escape poverty in 2020, compared to pre-pandemic projections. While risks to China’s economic outlook are exceptionally high, they can be partially mitigated by a forward-looking recovery strategy supported by good policies. The recovery offers an opportunity to accelerate China’s progress in rebalancing its economy toward more inclusive, sustainable, and greener growth.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda
title_short	China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda
title_full	China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda
title_fullStr	China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda
title_full_unstemmed	China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda
title_sort	china economic update, july 2020 : leaning forward - covid-19 and china's reform agenda
publisher	World Bank, Washington, DC
publishDate	2020
url	http://hdl.handle.net/10986/34264
_version_	1764480531503775744

China Economic Update, July 2020 : Leaning Forward - COVID-19 and China's Reform Agenda

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