China Economic Update, December 2021 : Rebalancing Act - From Recovery to High-Quality Growth
Following a strong rebound in the first half of 2021, economic activity cooled rapidly in the latter half of the year. The slowdown was partly policy induced, reflecting significant fiscal tightening and regulatory curbs on the financial and real e...
| Main Author: | |
|---|---|
| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2022
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/undefined/099730001072271154/P17579700654ca02f0a3ba07ea043314196 http://hdl.handle.net/10986/36828 |
| Summary: | Following a strong rebound in the
first half of 2021, economic activity cooled rapidly in the
latter half of the year. The slowdown was partly policy
induced, reflecting significant fiscal tightening and
regulatory curbs on the financial and real estate sectors,
while recurring COVID-19 outbreaks complicated the
normalization of contact service activities. This led to a
sharp slowdown in investment and sluggish recovery of
private consumption, which was only partially offset by
stronger-than-expected exports on the back of robust
external demand. In addition, power shortages and production
cuts aimed at reducing CO2 emissions, which surged in the
first half of 2021, also weighed on economic activity. |
|---|