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Economists Survey Raises 2021 CPI Forecast To 4.9%

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China's central bank is shifting its monetary policies to prevent a further slowdown as the authorities recognize that the real economy is faltering and growth drivers weaken in H2, Yicai.com reported citing analysts including Citic Securities Ming Ming, who is a former central bank official. The PBOC is likely to ensure the growth of M2 and social supplies meet the nominal GDP growth needs, and will continue to support small businesses, employment and consumption, Yicai said citing analyst Zhou Maohua of Everbright Bank. The economy faces greater pressure characterized by a lack of infrastructure investments, persistently high commodity prices, logistical bottlenecks and shortage of parts, property curbs, electricity shortages and the global pandemic, Zhou was cited saying.