World Bank revises China GDP forecast upward to 8.5%

In this undated photo, visitors admire views of Lujiazui, a top financial hub in China, at the Bund in Shanghai. - China Daily

BEIJING (China Daily/Asia News Network): The World Bank revised up its projection of China's GDP to expand by 8.5 per cent year-on-year in 2021, compared with a forecast of 8.1 per cent in April, according to a research report published on Wednesday (Sept 29).

While China's economy is projected to grow faster than expected, most other countries in the East Asia and Pacific region may face slower growth along with a decline of employment rates and labour force participation, economists from the World Bank said during an online media conference.