China Will Grow 6pc in 2021

No stimulus, no artifically high GDP growth like in the United States. Caixin: What to Know About China’s Strategy for a New Economic Development Pattern

Caixin: It’s widely forecast that China’s GDP will grow by more than 8% in 2021. How do you see economic growth this year?

Yang: This year’s economic growth will recover to at least 2019’s level, 6%. There is not much pressure to boost growth, mainly thanks to last year’s low baseline due to the pandemic, and the central government’s pledge to maintain continuity in macro policies that support the economic recovery.

They're banking on domestic consumption for this "normal" growth year, as if there was no pandemic last year. There's no "snap back" growth. Moreover, the services PMI was only lower two times, in the 2008 crisis and the 2020 pandemic.