Economy

China's economy started better than expected

2022-03-21   

Recently, China's National Bureau of statistics released data showing that from January to February this year, China's national economy recovered better than expected. In the face of the complex and severe international environment and multiple tests such as the spread of domestic epidemics, China has adhered to the principle of stability and progress while maintaining stability. The national economy has continued to recover steadily, production demand has increased rapidly, employment prices are generally stable, new drivers continue to grow, and new progress has been made in high-quality development. The bright report card of China's economy at the beginning of the year has attracted great attention from overseas. Foreign media believe that the start of China's economy is much better than expected. Major economic indicators were higher than expected "China's economy started surprisingly well this year", according to a recent article on CNN. Com. From January to February this year, China's macro data were quite strong, and a number of major indicators exceeded expectations, indicating that the government's supporting policies have begun to help China's economy recover. The national economic operation data from January to February 2022 released by China's National Bureau of statistics shows that the added value of industries above Designated Size in China increased by 7.5% year-on-year, the total retail sales of social consumer goods increased by 6.7%, and the investment in fixed assets increased by 12.2%. The main economic indicators rebounded higher than expected. Bloomberg pointed out that although the external environment is complex and severe, and China's economy faces many risks and challenges, on the whole, China's economic recovery momentum from January to February is good. China China's China novel coronavirus pneumonia epidemic and global uncertainty are beyond all expectations, but China's industrial production has still been surprisingly accelerated in the first two months of this year, Reuters reported. China's total retail sales of social consumer goods and investment in fixed assets also exceeded expectations. China's fixed asset investment increased by 12.2% year-on-year, the highest level since last July. The report believes that China's economy has benefited from the appropriate forward force of the steady growth policy at the beginning of the year. During the two sessions held in early March, from stabilizing house prices, stimulating consumption to creating jobs, the government work report once again released the signal of stable growth and became the focus of foreign media attention. The French echo said that the Chinese government will take the word "stability" as the "top priority" of its work in 2022 and will implement more targeted and sustainable stimulus measures. Spain's EFE news agency believes that the Chinese government's announcement of the target of GDP growth of about 5.5% in 2022 once again shows the determination and confidence to stabilize economic growth. Although China's economic growth target this year has decreased compared with last year's 8.1%, it is still an ambitious target. Because this target is within the range of economic analysts' prediction of China's economic growth - the upper limit of the range of 5% to 5.5%, it is a relatively high target, which shows that China's economy strives for progress while maintaining stability, and continued growth can be said to be growth on a high base. Take the initiative in stabilizing growth Singapore's Lianhe Zaobao believes that stability is closely related to the Chinese government's understanding of the international and domestic situation. What we need to see is that China adheres to the word "stability" in its domestic and foreign policies. This "stability" is not stagnation or inaction, but can be achieved only by deepening reform and hard work. "Stability" is the basis of "progress", and the goal of the Chinese government is to continue to move forward. Foreign media pay particular attention to China's initiative in stabilizing growth. Singapore's Straits Times pointed out that in a year of great importance to China, the growth target of about 5.5% is crucial to maintaining social and economic stability, including ensuring stable employment and meeting basic living needs. Measures to achieve this goal will include fiscal stimulus, infrastructure investment and monetary easing. Radio France Internationale reported that in his government work report to the fifth session of the 13th National People's Congress, Chinese Premier Li Keqiang said that efforts should be made to stabilize the macro-economic market and expounded a series of measures to keep the economy running within a reasonable range. The report is particularly concerned that China will implement a new combined tax support policy. On the one hand, it will continue to implement the tax reduction and fee reduction policy to support manufacturing, small and micro enterprises and individual industrial and commercial households, and on the other hand, it will vigorously improve the value-added tax retention and rebate system. Japan Economic News reported that in order to realize the stable growth of enterprises, China will implement large-scale tax cuts and fees, with a scale of about 2.5 trillion yuan. With regard to the 1.5 trillion tax rebate, Premier Li Keqiang said at a press conference during the two sessions that if the effect is good, it will be strengthened. This may also mean boosting the economy. Akkouchi, former editor in chief of Turkey's "Guangming Daily", said in an interview that he was confident that China would achieve the economic growth target set by the two sessions of this year as scheduled and that China's economy would move forward steadily. He believes that the rapid recovery and sustained growth of China's economy is mainly due to China's good coordination of domestic and international markets. With the international market seriously affected by the epidemic, China has actively expanded domestic demand and attracted more foreign capital and foreign businessmen to enter the Chinese market by holding import fairs and other means. At the same time, China has invested a lot of capital, human and material resources in green and low-carbon development, continuously developed new technologies and transformed real productivity, and made positive progress. Adding impetus to the world economic recovery Foreign media generally believe that the positive signal of China's steady economic growth and the bright performance of "opening the door steadily" will inject more confidence into the world economy in the difficult recovery. Hungarian News Agency pointed out that China's GDP growth last year exceeded expectations and reached 8.1%, providing space for further global economic recovery. Enhancing the market vitality and stimulating endogenous power required by China's development will effectively alleviate the problems such as shrinking demand in the process of economic development and further boost the driving force of economic development. The Straits Times quoted experts as saying that it would be a good thing for the world that China can achieve its goal, because China's 5.5% growth target will increase global economic growth by 0.1 percentage points compared with 5%. For countries with close trade relations with China, this will be a bright spot in the overall bleak prospect. The Wall Street Journal also believes that China's economic performance in 2022 will have an impact on the rest of the world, because these regions depend on China's manufacturing strength and China's core position in the global supply chain. According to an article published in Germany's Frankfurter Zeitung, Germany's development is closely related to China's economy. For many German enterprises, the Chinese market has been the most important driver of German enterprise growth in the past 10 years. Pakistan's Yonhap news agency pointed out that China's steady economic growth is extremely important to global economic development and will provide valuable opportunities for China and Pakistan to strengthen China Pakistan Economic Corridor cooperation and trade exchanges. Sebastian Schultz, a researcher at the China Research Center of the National University of La Plata in Argentina, said in an interview that the current international situation is complex and challenges are increasing. "Double circulation" and policies to stimulate domestic demand have enabled China's economy to continue to maintain stability and resilience and effectively respond to the challenges brought by factors such as the epidemic. At the same time, China insists on opening wider to the outside world, which will help promote world trade and increase the momentum of global economic development. The website of Kenya Broadcasting Corporation reported that China is the second largest economy in the world, and its development trend and policies have attracted worldwide attention. Novel coronavirus pneumonia is a frequent outbreak of global new situation, and the economic recovery is changing. The world is looking forward to understanding China's experience in preventing and controlling normal epidemic situation and maintaining stable economic operation. (Xinhua News Agency)

Edit:He Chuanning Responsible editor:Su Suiyue

Source:People's Daily

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