China’s economy will expand by 5.9% in 2020 on easing trade tensions and prospects of lower interest rates, according to analysts and traders, who had previously forecasted a growth rate of 5.8%.
That forecast was made before the US and China agreed a ‘Phase One’ deal.
The economy will grow by 6.1% this year and by 5.8% in 2021, according to the median estimate of around 70 economists in a Bloomberg survey.
Observers see policymakers maintaining a measured pace of easing next year and expect the central bank to cut medium-term lending rates by 15 basis points in the first quarter.
Share
