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Following an unprecedented economic shock this year from the coronavirus pandemic, we expect a meaningful growth recovery across Greater China in 2021. ���������ֳ� forecasts growth in mainland China to reach 8.0% in 2021, after slowing to 2.3% in 2020. This should have positive spill-overs for the neighbouring economies of Hong Kong, Macao and Taiwan, which are dependent on the mainland market for exports and tourism (though the latter will take time to fully recover). ���������ֳ� forecasts growth in Hong Kong to rebound to 4.0% in 2021, following a 6.5% contraction in 2020. In Macao, with non-essential travel to and from mainland China having resumed since mid-September 2020, we expect growth of 35% in 2021, following a 50% contraction in 2020. Taiwan will avoid contraction in 2020, and we forecast growth of 2.5% in 2020 and 3.5% in 2021 due to robust exports and its successful coronavirus containment efforts.