China Won’t Have Any Issues Beating Its 2021 GDP Target

China faces a range of challenges in 2021 but reaching its official gross domestic product growth target of more than 6% won’t be one of them. Bloomberg Economics has raised its forecast for China to 9.3% for 2021, up from November’s projection of 8.2% and a sharp acceleration from last year’s 2.3% expansion. The growth upgrade reflects momentum from a solid finish to 2020, a milder-than-expected fiscal pullback and firmer external demand, according to BE’s Chief Asia Economist Chang Shu.