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A potential global economic rebound in the second half of 2021, in the wake of coronavirus vaccination programs, could drive China’s GDP growth past 8.5%, Ma Jun, a member of the People Bank of China’s (PBOC) monetary policy committee said in an MNI interview on Friday.

Key quotes

“There was no danger of deflation in the world’s second-largest economy.“

“Chinese exports could surge if OECD countries manage to vaccinate most of their populations by the end of June.”

“While some Chinese products which have benefitted from Covid disruption elsewhere would be displaced as western supply chains crank back to life, overall, the resumption of growth in the U.S. and Europe would help China’s exports.”

“A robust U.S. recovery could also drive a rally in the dollar index.”