China's economy is projected to expand by 8.5% – World Bank


In its latest East Asia and Pacific Fall 2021 Economic Update, the World Bank continues to remain optimistic on China, despite the recent challenges over the country’s property sector and electricity supply.

Key quotes

“China's economy is projected to expand by 8.5%.”

“The rest of the region is forecast to grow at 2.5% (nearly 2 percentage points less than forecast in April 2021).”

"The economic recovery of developing East Asia and Pacific faces a reversal of fortune."

"Whereas in 2020 the region contained COVID-19 while other regions of the world struggled, the rise in COVID-19 cases in 2021 has decreased growth prospects for 2021." 

Market reaction

The risk sentiment is downbeat amid China Evergrande concerns, US debt ceiling deadlock and ahead of Fed Chair Jerome Powell’s testimony.

The S&P 500 futures shed 0.20% while AUD/USD is meandering near daily lows of 0.7266 after upbeat Australian Retail Sales and slowing Chinese industrial profits.

China Industrial Profits for August arrived at +10.1% YoY vs. 16.4% expected.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD jumps to three-week highs near 1.1650 amid falling dollar, yields

EUR/USD is trading close to 1.1650, recovering ground to clinch three-week highs. The pair cheers risk-on mood-led decline in the US dollar. Treasury yields pullback, as poor US industrial data tempers hawkish Fed’s expectations. Focus on ECB and Fedspeak.

EUR/USD News

GBP/USD extends rally beyond 1.3800 on USD selloff

GBP/USD extended its rally in the European trading hours and reached its strongest level in a month above 1.3800. The broad-based selling pressure surrounding the greenback and the BoE rate hike expectations ahead of UK CPI data fuel the pair's upside.

GBP/USD News

XAU/USD targets $1791 on turnaround Tuesday

Gold price jumps 1% as the US dollar keeps losing ground across the board. Retreat in Treasury yields, risk-on mood aid the rebound in gold price. 

Gold News

Stellar's XLM won't face the same legal issues in the US as Ripple did

Ripple and XRP are still battling with the SEC nearly a year after the lawsuit was first filed. Due to the inherent similarities between the target space of XRP and XLM, some speculate that the regulators might target Stellar next.

Read more

Netflix (NFLX): Will Q3 earnings after the close be enough?

Netflix (NFLX) shares continued to perform strongly on Monday with results just around the corner. The stock has been very strong for some time, setting new all-time highs on the back of the global success of Squid Game.

Read more

Forex MAJORS

Cryptocurrencies

Signatures