BEIJING, Jan 16 — China’s economy likely grew at the slowest pace in 1.5 years in the fourth quarter, dragged by weaker demand due to a property downturn, curbs on debt and strict Covid-19 measures, raising heat on policymakers to roll out more easing steps.
For 2021, GDP likely expanded 8.0 per cent, which would be the highest annual growth in a decade, partly due to the low base set in 2020, when the economy was jolted by Covid-19 and stringent lockdowns. Exports, which were one of the few areas of strength in 2021, are also expected to slow, while the government is seen continuing its clampdown on industrial emissions.
Analysts polled by Reuters expect the central bank to deliver more modest easing steps, including cutting banks’ reserve requirement ratios the one-year loan prime rate - the benchmark lending rate.
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