China Q4 GDP May Grow 6%: Yicai

China's Q4 GDP may rise by as much as 6% from a year ago and reach as high as 8% in 2021 on the back of the recovery in the service industry and consumption, Yicai reported citing economists. The PBOC will likely shun RRR cuts and choose interbank operations to maintain liquidity, while guiding loan interest rates and banking charges lower, the paper reported citing Ding Anhua, an economist from China Merchants Bank. The PBOC was unlikely to tighten to prevent rising macro leverage ratios given its expressed aim of "allowing phased growth in leverage" and to "maintain a stable leverage ratio for next year", Jiang Chao, an economist from Haitong Securities commented to the paper.