Bring out the 90 trillion report card Chinas economy sings the decline theory without breaking through

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 Bring out the 90 trillion report card Chinas economy sings the decline theory without breaking through


On January 21, at a press conference held by the Information Office of the State Council, Ning Jichao, Director of the National Bureau of Statistics, introduced the operation of the national economy in 2018. Data show that in 2018, Chinas economy delivered a bright answer: the annual gross domestic product (GDP) of 90,030.9 billion yuan, calculated at comparable prices, increased by 6.6% over the previous year, and achieved the expected development goal of about 6.5%.

With 6.6% economic growth, China not only ranks first among the top five economies in the world, but also ranks second in the world with a total economic output of 13.6 trillion US dollars, contributing nearly 30% to global economic growth. Such achievements are undoubtedly good news for the uncertain world economy at the beginning of the year of 2019. They also help to break down all kinds of arguments that have been singing down Chinas economy for some time.

In 2018, in the face of the international environment in which trade protectionism prevails and populist activities occur frequently, Chinas economy is at the top of the list and has withstood all kinds of severe and complex risks. The operation of the national economy is maintained in a reasonable range, showing a steady and progressive trend in general.

Stability comes from Chinas effective macro-policy. In 2018, the Chinese government adhered to the general tone of steady and progressive work, adhered to the new development concept, adhered to promoting high-quality development, adhered to the supply-side structural reform as the main line, and focused on stimulating market vitality, demand potential and endogenous power. From the issuance of the Implementing Scheme for Improving Consumption System and Mechanism (2018-2020) to the revision of the Special Management Measures for Foreign Investment Access (Negative List), a series of policies for stable employment, stable finance, stable foreign trade, stable foreign investment and stable expectations have been issued to maintain the smooth operation of the national economy.

Behind stability is Chinas strong consumption momentum. In 2018, Chinas per capita disposable income increased by 6.5% in real terms, faster than 6.1% in GDP per capita. The population of middle-income groups in China has exceeded 400 million people. The huge consumer market has provided strong support for Chinas steady economic growth. The data show that the total retail sales of consumer goods in the whole year of 2018 were 38088.7 billion yuan, an increase of 9.0% over the previous year. At the same time, Chinas commodity consumption has begun to develop towards high quality. High-quality and high-price commodities are also more likely to enter middle and high-income families. Cultural consumption, information consumption, education and training consumption, health and health consumption are growing rapidly.

Stability is also inseparable from Chinas rich demographic dividend. Chinas labor resources are nearly 900 million, employers are more than 700 million, highly qualified personnel with higher education and vocational education are 170 million, and there are more than 8 million university graduates every year. This shows that China still has a huge population and a large labor force, while the demographic dividend still exists, the talent dividend is also forming, which provides intellectual support for promoting high-quality economic development.

Achievements are hard won. Looking from the long-term development trend, although the uncertainty of the international environment is increasing and the domestic structural contradictions are still outstanding, the fact that China is still in and will be in an important strategic opportunity period of development for a long time will remain unchanged, and the fundamentals of Chinas long-term economic improvement will remain unchanged. Therefore, on the one hand, we must continue to promote steady growth, promote reform, adjust the structure, benefit peoples livelihood and prevent risks. On the other hand, we should cooperate openly with other countries, win-win with each other, constantly improve scientific and technological capabilities and innovation capabilities, and accelerate green development. (Wang Rule of Law, commentator of Overseas Networks) This article is a copyright work. It is strictly prohibited to reproduce it without authorization. Overseas vision, Chinas position, landing on the overseas edition of Peoples Daily Official Website - Overseas Network or Haikker client, take the lead in obtaining authoritative information. Source: Overseas Network Responsible Editor: Xun Jianguo_NN7379

Achievements are hard won. Looking from the long-term development trend, although the uncertainty of the international environment is increasing and the domestic structural contradictions are still outstanding, the fact that China is still in and will be in an important strategic opportunity period of development for a long time will remain unchanged, and the fundamentals of Chinas long-term economic improvement will remain unchanged. Therefore, on the one hand, we must continue to promote steady growth, promote reform, adjust the structure, benefit peoples livelihood and prevent risks. On the other hand, we should cooperate openly with other countries, win-win with each other, constantly improve scientific and technological capabilities and innovation capabilities, and accelerate green development. (Overseas commentator Wang Rule of Law)

This article is a copyrighted work. It is strictly prohibited to reproduce it without authorization. Overseas vision, Chinas position, landing on the overseas edition of Peoples Daily Official Website - Overseas Network or Haikker client, take the lead in obtaining authoritative information.