Standard Chartered: China can achieve 8% growth in 2021

The Government Work Report delivered by Premier Li Keqiang on March 5 set a growth target above 6 percent for 2021.

Standard Chartered Bank expects China's GDP to grow by 8 percent this year, said Ding Shuang, chief economist of Greater China and North Asia, Standard Chartered Bank.

The government is sending a clear message that growth quality outweighs speed, he said, adding that the total social financing growth is likely to be cut to stabilize the macro leverage ratio.