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Credit Suisse Swiss Bank: The Chinese Economy Will Grow by More Than 7% This Year

SCBC Team – Riyadh

The Swiss bank, Credit Suisse, expects the Chinese economy to grow by more than 7% during the current year 2021, and to remain strong during the current first quarter, despite the world being affected by the emerging Coronavirus pandemic.

The Swiss bank said in an online media conference about the expectations of the Chinese market for the year 2021, that “consumption” will be the driving force for Chinese economic growth in the next few years.

It is worth noting that the Chinese economy recorded positive growth last year 2020, despite the global economic repercussions caused by the Coronavirus pandemic. China saw its GDP growth to over 100 trillion yuan for the first time last year, according to Chinese official data.