chinadaily.com.cn | China's economy will likely grow at 1.2 percent this year and rebound strongly to 9.2 percent in 2021, the International Monetary Fund predicted Tuesday, as it said the COVID-19 would precipitate global growth into the deepest recession since 1930s but a recovery of 5.8 percent is expected if the pandemic fades. This development has helped boost China's economic growth. Click for more info: Latest, -AD Making "porn videos" to earn a living? READ MORE: Chinas GDP Growth Slows to Lowest Rate in 29 Years. READ MORE: Chinas GDP Contracts for First Time Since 1992. The growth forecast is marked down by more than 6 percentage points relative to IMF's projections in October and January, which is an "extraordinary revision" over such a short period of time, according to the IMF report. China. A recovery in 2021 also will be weaker, with global growth forecast at 5.4 percent for the year compared to 5.8 percent in the April forecast. "Global growth is projected at –3.0 percent in 2020, an outcome far worse than during the 2009 global financial crisis," the IMF said in World Economic Outlook released Tuesday. While a significant number of countries will see their economies contract in 2020, China is still expected to grow by 1%. The report was released during the annual spring meetings of the IMF and World Bank that are taking place virtually April 14 through April 17. Recently, Liandu District people's Procuratorate of Lishui City, Zhejiang province sued couple Liu and Lu for making, selling, and spreading obscene a, The largest-scale watchtower of the ancient Great Wall opened to the public on Saturday after authorities repaired relics, improved infrastructure, and upgraded the surrounding environment. Email: RR-CHN@IMF.ORG Tel: +86 10 6505 1155 Fax: +86 10 6505 8580 The IMF said in June that it expected 2020 global output to shrink by 4.9 percent, compared with a 3-percent contraction predicted in April, when it used data available as widespread business lockdowns were just getting into full swing. The country took on very strict measures to combat the coronavirus outbreak in January, and have kept daily confirmed cases down over the past few months C aside from a recent outbreak at Beijings Xinfadi Market. Office Information. The IMF predicted a partial rebound in 2021, with the global economy growing at 5.8 percent. The IMF also said that … For more news, click 'Read more' () below. If you carefully observe t... China's GDP Expected to Grow 1% in 2020, Says IMF, By Ned Kelly We caught up with Caroline Taylor, Head of College at Dulwich College Shanghai Pudong (DCSPD) , to get her reflections on the tough school year behind her, and discuss the new school year ahead. Resident Representative for Peoples Republic of China Steven Alan Barnett Senior Resident Representative of China . The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. But the world's second-largest economy is expected to lead the economic recovery in the region. Still, the IMF cautioned the recovery of the global economy could be weaker than expected after the spread of the virus has slowed for a host of other reasons. B12, Jianguomenwai AvenueBeijing 100022, P.R. Unlike the US and other major economies, Asia is likely to be the only region with a positive growth rate in 2020, though, averaging at 1 percent, the growth is more than 5 percentage points below its average in the previous decade, the IMF said. It said official aid for adaptation to climate change would pay back more than 100 percent in growth, and there is a need to double a currently planned $10 billion to adapt countries to climate change to around $25 billion. For example, if a therapy or a vaccine is found earlier than expected, social distancing measures can be removed and the rebound may occur faster than anticipated. Beijing ICP prepared NO.16065310-3, IMF urges infrastructure investment to boost post-COVID growth. Copyright © 2020 CGTN. The IMF said, however, that a major new outbreak in 2021 could shrink the year's growth to a barely perceptible 0.5 percent. The IMF said increasing public investment by 1 percent of GDP in advanced and developing economies would grow their GDP by 2.7 percent, creating 7 million jobs directly, and between 20 million and 33 million jobs overall when considering the indirect macroeconomic effects. The International Monetary Fund (IMF) released a forecast on Wednesday that predicts global GDP will shrink 4.9% this year as the COVID-19 pandemic continues to spread. China's infrastructure has developed by leaps and bounds for four decades. The rebound in 2021 depends critically on the pandemic fading in the second half of 2020, allowing containment efforts to be gradually scaled back and restoring consumer and investor confidence, according to the IMF. Room 1806, East Tower, Twin TowersNo. Follow Updates Articles from This Blog via Email. Amid further containment of the COVID-19, China is powering ahead in returning to work and resuming business and production. The economy of the United States, which has the largest numbers of both infections and deaths of the novel coronavirus, is projected to contract by 5.9 percent this year, and is poised to bounce back to 4.7 percent next year, the IMF said in its report. The massive Jiuyan Watchtower, or the Nine Eyes T. "This recovery in 2021 is only partial as the level of economic activity is projected to remain below the level we had projected for 2021, before the virus hit," Gita Gopinath, the IMF's chief economist, told reporters via a video link. There are many variables at play during a recovery, the IMF said. The International Monetary Fund (IMF) released a forecast on Wednesday that predicts global GDP will shrink 4.9% this year as the COVID-19 pandemic continues to spread. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. By ZHAO HUANXIN in Washington | The International Monetary Fund (IMF) on Monday said member governments should seize the opportunity of low interest rate to invest in infrastructure, so as to drive recovery from the coronavirus pandemic and a shift toward greener energy. Source:China Daily As China began to open up in 1979, a clutch of American stude... Click the blue words above to follow our Wechat. Aug 30, 2020: M: IMF's growth rate projections for 2020: World Affairs: 2: Aug 22, 2020: A shift in the IMF’s outlook: from 2% to 6.5% the growth rates of the Egyptian economy in 20/21: Middle East & Africa: 6: Aug 17, 2020: M: Govt will have to raise power tariff by 30pc to revive IMF programme: Pakistan Economy: 72: Jul 31, 2020 The IMF said that indicators in China, such as industrial production, retail sales, and fixed asset investment, suggest that the contraction in economic activity in the first quarter could have been about 8 percent year over year. Its worth noting that Chinas GDP growth was already slowing down in 2019, with growth falling to 6.1% compared to 6.6% in 2018. Voic e Broadcast Sep 14 2020 Ch... -AD There are many famous ancient paintings in China. Today's outlook from the IMF also predicts that the US economy will contract 8% in 2020, but China will eke out 1% growth. He added that "low interest rates globally also signal that the time is right to invest" despite the IMF's frequent warnings about a massive buildup of debt in developing countries. How are you feeling going into, By Rakini Bergundy After being pushed back several times, Mulan is finally out on the small screen. American poet Louise Gluck wins Nobel Prize in Literature, China remains attractive to foreign investment, CRISPR scientists earn Nobel Prize in Chemistry, Amazing China: Crescent spring in the desert, Black hole discoveries earn Nobel Prize in Physics, Eco-friendly China will continue to improve water quality, Complaints about environment will prompt govt to build greener China, Low-calorie, filling foods sell like hot cakes. "The Great Lockdown", as the IMF called the global downturn, is the worst since the 1930s Great Depression. Updated: 2020-04-15 02:58. These include lingering uncertainty about contagion, confidence failing to improve, and establishment closures and structural shifts in firm and household behavior, leading to more lasting supply chain disruptions and weakness in aggregate demand. Fans of the Disney classic were able to stream it on September 4 on Disney+ (for an added USD30), while those in China can catch the flick, ManyChinese universities have reduced holiday for the coming National Day and the Mid-Autumn Festival as students are encouraged not to leave the campus for nonessential travel to prevent the spread of COVID-19. The IMF predicted China's growth to bounce back next year with 9.2 percent, a rarity for a decade. It added that there was "extreme uncertainty", and the situation could get much worse. This development has helped boost China's economic growth. India is another country expected to be spared from recession in 2020 with a projected growth rate of 1.9 percent. It said public investment in infrastructure is feasible and can be delivered quickly if governments invest in maintenance of infrastructure, review and restart projects that were shelved at the start of the pandemic, speed up projects in the pipeline and plan immediately for post-pandemic investments. China's economy will likely grow at 1.2 percent this year and rebound strongly to 9.2 percent in 2021, the International Monetary Fund predicted Tuesday, as it said the COVID-19 would precipitate global growth into the deepest recession since 1930s but a recovery of 5.8 percent is expected if the pandemic fades. The 186-member lender institution forecast a subdued 1.2 percent of growth for China for the whole of 2020, even the country experiences a sharp rebound in the remainder of the year with sizable fiscal support. The last time the Asian country posted a similar growth rate was in 2009.