China’s economy is the best

Sebastian Eckard, the World Bank’s chief economist on China, said: “China’s economy will grow highly next year due to the high growth of developed regions and the city itself, but it is important that to continue this trend, China will become a service-oriented economy and the role of innovation in it will also be strengthened. According to Eckard, this will only happen if fiscal policies are set in such a way that it will make the distribution of facilities more equitable throughout the country.

The World Bank predicted in a report that China’s economy will experience the largest growth among the world’s major economies.

In its latest estimate of china’s economy, the World Bank has forecast that the country’s economy will grow by 7.9 percent next year, which, if realized, would be 5.9 percent higher than what it would be registered this year. Thanks to improved labor market conditions and increased consumer demand and household expenditures, china’s economy will be able to return to pre-corona conditions next year, it said.

In its report on china’s economy, the World Bank warned that the improvement in China’s macroeconomic conditions should not neglect some of the current challenges such as high debt. The World Bank has advised China to continue to adjust its policy in a way that strengthens economic activists’ confidence in the country’s stability. Welcoming Beijing’s initiative to launch a local government debt management mechanism, the World Bank has called for its extension for next year, stating that it has successfully reduced financial risks at the local level.

The World Bank also considered the role of china’s central bank in managing the coronavirus crisis and reducing its economic consequences very important and urged it to continue its strong presence to support financial markets and inject liquidity.