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IMF confirms China's record growth

The new estimates of the International Monetary Fund in April confirm the record growth of the Chinese economy in the two-year period 2020-2021.


Growth of the Chinese economy


China is the only one of the major countries that in 2020 (+ 2.3%) marked positive growth, will continue its trend with + 8.4% in 2021 (+0.3 compared to January data) well above the prudential estimate of over 6% confirmed by the Party in the Two Sessions of Beijing.


According to the latest data, the Euro-zone will see gross domestic product (GDP) grow by 4.4% in 2021 (+ 0.2% compared to January data), while Italy should grow by 4.2% in 2021 (+ 1.2% compared to January data).


In the two-year period, Beijing grows well above the average of the world economy (-3.3% in 2020 and + 6% in 2021) and consolidates its development with a series of records during the pandemic. Also for 2022 the International Monetary Fund expects a greater acceleration for China + 5.6% compared to future estimates for the United States and Europe


Record China in 2020


China in the year of the health emergency recorded a number of records in its development. In 2020 it recorded the largest volume of exports and the greatest value in trade with other countries and has established itself as the first destination for foreign investments.


According to Chinese Customs data, total imports and exports of goods increased in 2020 to over $ 4.6 billion. Exports increased by 3.6% with a surplus on the global trade balance of approximately 27 billion dollars. Beijing achieved the largest trade in 2020 with the countries of South East Asia (+ 6.7%) and with the European Union (+ 4.9%)


Foreign investments


Foreign Direct Investments (FDI) in mainland China increased by 6.2% to a record high of 999.98 billion yuan in 2020, according to estimates by t