Briefly

China's GDP to grow by 7.9% in 2021, says WB

China's GDP is set to grow by 2 percent this year, mainly boosted by government spending and strong exports, and by 7.9 percent in 2021, the World Bank said on Tuesday. The East Asia and Pacific region is expected to grow by 0.9 percent this year, the lowest rate since 1967, according to the World Bank's updated forecast. In the region, domestic economic activity is reviving in some countries that have so far better contained the spread of the novel coronavirus epidemic. But the East Asia and Pacific region's economy is heavily dependent on the rest of the world, and global demand remains subdued.

Corn imports rise by 339.8% in August

China's corn imports surged in August, official data showed. Corn imports last month stood at 1.02 million metric tons, up 339.8 percent year-on-year, while the value reached 1.53 billion yuan ($225 million), up 312 percent year-on-year, data from the General Administration of Customs showed. In the first eight months, the value of corn imports jumped 52.4 percent year-on-year while the volume expanded by 50 percent.

China Daily - Xinhua