China’s economy managed to realise a V-shaped rebound in 2020 and became the only major economy to report positive GDP growth in 2020. In 2021, changes in domestic industrial structure will bring great potential opportunities, including new technological revolutions in 5G, new energy sources, new materials; import substitutions as result of global supply chain transformation; online economy; new urbanisation.
Meanwhile, there are “opportunities in crisis” from the slow recovery of global economy, low (negative) interest rates in developed countries, and trade frictions, including net capital inflows and financing opportunities; return of US-listed Chinese shares and acquisition of quality assets; RMB internationalisation; oversea investments.
China Tax Leader, Central China Markets Leader, Shanghai Office Lead Partner, PwC China
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