How is Chinas economy now? Please check this medical report

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 How is Chinas economy now? Please check this medical report


In the first three quarters of this year, Chinas economy has gone through an extraordinary course. Novel coronavirus pneumonia suddenly caused Chinas economy to press the pause button and face the challenge of negative growth. Today, with the acceleration of the resumption of work and production and the resumption of business and market, Chinas economy first fell and then rose. In the first three quarters, the year-on-year growth rate of some major indicators has turned from negative to positive, the relationship between supply and demand has gradually improved, the market vitality has been enhanced, the employment and peoples livelihood have been better guaranteed, and the national economy has continued to recover steadily.

First of all, we will focus on the four indicators of macroeconomic regulation and control: economic growth rate, employment, prices and balance of payments. According to the preliminary calculation, in the first three quarters, the GDP increased by 0.7% on a year-on-year basis, from negative to positive. In terms of quarters, the first quarter fell by 6.8% year-on-year, which was the first negative growth since there was quarterly statistics in 1992. Since then, it began to rise steadily, with an increase of 3.2% in the second quarter and 4.9% in the third quarter.

Employment is the biggest livelihood. Since this year, the state has put employment in the first place of six stabilities and six guarantees and has implemented the employment priority policy with greater efforts. On the one hand, it can reduce the burden of enterprises and stabilize the existing jobs. On the other hand, it helps workers improve their skills and provide employment services. For college graduates, migrant workers and other key groups, the policy is based on the individual, classified assistance. In the first three quarters of this year, 8.98 million new urban employees were added, accounting for 99.8% of the annual target. In September, the national urban survey unemployment rate was 5.4%, which continued to drop from the high of 6.2% at the beginning of the year. Although the employment situation tends to improve, the current employment pressure is still great for college graduates, migrant workers and other key groups.

Liu Aihua, a spokesman for the State Bureau of statistics and director of the General Statistics Department of national economy of the State Bureau of statistics, said: according to the data, the survey unemployment rate of college graduates aged 20 to 24 years old or above has significantly decreased compared with August, but it is still 4 points higher than that of the same period last year. Therefore, the pressure of this group is still relatively large, but the continuous support policy continues to help Help college graduates to achieve full employment. For migrant workers, it will help them to promote flexible employment by ensuring market subjects and encouraging innovation.

At the beginning of this year, affected by the rise in food prices, the national consumer price index (CPI) rose by more than 5% at one time, and since then it has gradually declined. In the first three quarters, CPI rose 3.3% year on year. In terms of balance of payments, in the first three quarters, Chinas total import and export value of goods trade was 23.12 trillion yuan, the trade surplus was 2.3 trillion yuan, and the foreign exchange reserve was more than 3.1 trillion US dollars.

From the perspective of production, the first three quarters of Chinas agricultural production situation is good, service industry is recovering steadily and industrial production is accelerating. The added value of the three industries has risen in an all-round way, all of which have achieved positive growth year-on-year, and the growth rate is accelerating. Among them, the industrial added value above the scale increased by 6.9% in September, and maintained a positive growth for six consecutive months, and the purchasing manager index of manufacturing industry, which reflects the confidence of market entities, was above the critical point for seven consecutive months.

Stabilizing the hundreds of millions of market players is the key to ensuring employment and peoples livelihood. China has issued a series of policies to relieve the difficulties of market players. It is estimated that the scale of new tax reduction and fee reduction will exceed 2.5 trillion yuan in the whole year, and promote financial institutions to make reasonable profits of 1.5 trillion yuan to enterprises, and give various support to the industry enterprises affected by the epidemic, especially the small and micro enterprises with operational difficulties.

Liu Aihua said: more than 75% of small and micro industrial enterprises think that their business conditions are OK. From the perspective of capacity utilization, 67.6% of enterprises believe that the capacity utilization has reached above the normal level. However, if the field is further relaxed, the overall economy has not returned to the normal level, because most of the indicators monthly growth rate and cumulative growth rate have returned It has not returned to the normal growth level, so the sustained and stable recovery is still in the recovery process.

From the demand side, in the troika driving the economy - investment, export and consumption, it turns out that the most worrying thing is export. At the beginning of this year, due to the impact of the epidemic, the demand of the international market dropped sharply, and Chinas foreign trade enterprises were also affected. In order to stabilize the basic market of foreign trade, the state has issued a series of policies to increase financial, tax, financial and insurance support, further improve the level of customs clearance facilitation, encourage the holding of online exhibitions, and add a number of comprehensive cross-border e-commerce pilot zones.

With the implementation of a series of measures to stabilize foreign trade, Chinas export has stopped falling and rebounded since April, and has achieved continuous double growth in import and export since June. In the first three quarters, Chinas total value of imports and exports of goods increased by 0.7% year-on-year, realizing the first years cumulative growth from negative to positive. In the third quarter, Chinas total import and export value, total export value and total import value all reached a record high in the quarter.

As we have taken the lead in getting out of the epidemic, returning to work and production, and restoring the economy, we are able to provide the world with a series of materials and various other industrial products to overcome the epidemic, Yao said. China has strong resilience, great potential, sound industrial chain and supply chain, and the intensity of structural reform on the supply side has also fully optimized the whole structure. All these have laid a very important foundation for Chinas export this year.

In the troika, consumption has been the first driving force of Chinas economic growth in recent years. Affected by the epidemic prevention and control, residents consumption recovered slowly in the first half of the year. At present, with the implementation of the policy of preventing and controlling the epidemic situation in China, we need to further accelerate the recovery of domestic enterprises from the situation of epidemic prevention and control and help the domestic market recover.

In the first three quarters, the total retail sales of consumer goods reached 27332.4 billion yuan, down 7.2% year-on-year, but the decline rate was narrower than that in the first half of the year. Since August, the total retail sales of consumer goods have been increasing for two consecutive months, and the quarterly growth rate in the third quarter turned positive for the first time in this year. Objectively, the epidemic also led to a rapid growth of online consumption, becoming a new bright spot. In the first three quarters, the national online retail sales increased by 9.7% year-on-year.

Liu Aihua said: although consumer demand has recovered rapidly, so far, the pull point is 1.7%, and the cumulative growth rate is still down by 7.2%, which is still a very weak level. So from this perspective, I think we need to make more efforts to promote consumption growth.

This years 11 holiday, Chinas domestic market has shown another amazing consumer vitality. During the 8-day holiday, the country received 637 million domestic tourists and realized domestic tourism revenue of RMB 46.65 billion. The daily average sales of key retail and catering monitoring enterprises increased by 4.9% compared with the same period last year. The box office of the national film was nearly 3.7 billion yuan seven days before the long holiday, which was the highest level of gold week in previous years. The recovery of consumption is driving the recovery of Chinas economy.

In the first three quarters, investment also showed a rising trend. This year, China adjusted and optimized the investment structure within the central budget in a timely manner, and actively supported the construction of weak points exposed by the epidemic. A number of two new and one heavy projects such as 5g, data center and other key public health infrastructure projects have been started. Especially, the rapid recovery of investment in high-tech industries has become a strong support for leading the high-quality development of Chinas economy.

After a sharp decline in the first quarter, Chinas fixed asset investment rebounded rapidly in the second quarter. In the first three quarters, Chinas fixed asset investment increased by 0.8% year-on-year, and the growth rate changed from negative to positive for the first time in the year.

Yao Jingyuan said: at the beginning of this year, when the impact of the epidemic was most severe, the number of new projects started nationwide was negative 47%, and by the end of September, it was 14.6%. In September, 9874 projects with a total of 50 million yuan or more were newly started in this month. The whole investment has made an important contribution to the rapid recovery of Chinas economy.

While some traditional industries have been impacted by the epidemic, since this year, new technologies represented by cloud computing, big data and artificial intelligence have developed rapidly; online office, online education, remote consultation and other industries have expanded rapidly; and new models such as intelligent construction and unmanned distribution have been popularized. The vigorous new momentum will provide stronger support for Chinas high-quality economic development and make the pace of Chinas economic recovery more solid.

(function(){( window.slotbydup=window .slotbydup||[]).push({id:u5811557,container:ssp_ 5811557, async:true }Chinas economy is accelerating its recovery, which not only shows that we have achieved remarkable results in overall epidemic prevention and development, but also shows that the fundamentals of Chinas economy for a long time have not changed, and the basic characteristics of Chinas economy with strong resilience, sufficient potential and large space for maneuver have not changed. This is the foundation for us to cope with the challenges of wind and rain. But at the same time, we should also be aware that the global epidemic has accelerated the evolution of the great changes that have not happened in a century. At present, economic globalization is facing a counter current, international trade and investment are shrinking sharply, and the world has entered a period of turbulent change. However, we still have many weak points to achieve high-quality development, which requires us to make great efforts to move forward with an indomitable attitude of struggle and a state of mind. Source: CCTV news client editor: Li Chong_ NN5538

Chinas economy is accelerating its recovery, which shows that we have achieved remarkable results in overall prevention and development, but also that the fundamentals of Chinas economy have not changed for a long time. The basic characteristics of Chinas economy with strong resilience, sufficient potential and large space for maneuver have not changed. This is the foundation for us to cope with the challenges of wind and rain. But at the same time, we should also be aware that the global epidemic has accelerated the evolution of the great changes that have not happened in a century. At present, economic globalization is facing a counter current, international trade and investment are shrinking sharply, and the world has entered a period of turbulent change. However, we still have many weak points to achieve high-quality development, which requires us to make great efforts to move forward with an indomitable attitude of struggle and a state of mind.