PBOC head: China's economy to expand 2% this year

Omkar Godbole FXStreet Contributor

With the coronavirus pandemic under control, China's economy could see consumption-driven economic growth of 2% this year, central bank governor Yi Gang said on Sunday, according to Reuters.

Key quotes

I think the accumulative growth for the first three quarters of this year will be positive. For the whole year, we predict China GDP growth of around 2%,

The Chinese economy remains resilient with great potential. Continued recovery is anticipated, which will benefit the global recovery.

Monetary policy should focus on domestic demand, domestic inflation targeting, and let the market decide the exchange rate.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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