Japanese financial services group Nomura released a report in which it raised the forecast on China’s GDP growth in 2020 and 2021 to 2.2 percent and 9.4 percent, from the previous 1.7 and 8.8 percent respectively, Reuters reported.

File photo: CFP

Nomura also expected China to see a 5.2 and 5.7 percent growth in the third and fourth quarter, increasing from 4.3 and 3.2 percent.

Comparing with other major economies afflicted by the COVID-19, China, beyond any doubt, has shown an excellent recovery, the report said.

(Compiled by Qiao Wai)