Beijing (Reuters) – Rising commodity prices and the flare-up of the coronavirus pandemic are slowing the recovery of the Chinese economy.
According to the state statistics office on Thursday, gross domestic product rose by 7.9 percent in the second quarter compared to the same period last year. Experts had expected an increase of 8.1 percent. The authorities also warned of uneven economic development in the country and possible setbacks in other economies.
Against this background, the people of Brazil expected the Chinese central bank to ease monetary policy further. “If those responsible don’t react, growth in the fourth quarter could fall out of the targeted corridor,” said investment strategist Xing Zhaopeng from ANZ Bank. Because the 2020 annual financial statements were exceptionally strong due to the recovery from the consequences of the coronavirus pandemic.