Foreign media: Chinas strong economic recovery has become an important engine of global growth

category:Finance
 Foreign media: Chinas strong economic recovery has become an important engine of global growth


Qu Hongbin, CO head of Asian economic research at HSBC, believes that global demand is still shrinking under the influence of the epidemic, but Chinas exports seem to have been performing well, and they are probably still seizing market share from other countries. In addition, private consumption is also catching up. Chinas strong economic performance has helped boost international demand for its assets, with the Yuans exchange rate up 3.8% this year, while Chinas onshore trading yuan against the US dollar fell slightly to 6.7011 yuan to the US dollar, but still close to an 18 month high, the report said.

In addition, foreign media believed that the third quarter data further confirmed the relatively strong situation of Chinas economy. The Wall Street Journal, the associated press, the New York Times and the BBC reported on the 19th that Chinas GDP in the third quarter increased by 4.9% year-on-year, indicating that Chinas economy has returned to the growth track before the outbreak of the epidemic after being hit hard by the epidemic six months ago. The above data is close to the expected economic growth rate of 5.5% to 6% in early 2020.

The growth data of the third quarter further confirmed the relatively strong situation of Chinas economy, and made the year-on-year growth rate of Chinas economy in the first nine months of this year to reach 0.7%, entering a positive range. Other economic indicators provide more signs of strength. In September, the national urban survey, the main indicator of Chinas unemployment rate, fell to 5.4% from 5.6% in August, lower than the 6% target set by the Chinese government.

If the second quarter represents the recovery of Chinas industrial sector, then the third quarter marks the recovery of Chinas consumer sector. With the new epidemic situation almost eradicated in China, relevant departments encourage consumers to go out of their homes and open their wallets. At the same time, foreign media believe that Chinas economy is an important engine of world growth. Chinas figures have convinced the market that Chinas recovery is on track, according to a report on the 19th. Chinas active containment measures in the early days of the new outbreak have enabled its economy to rebound faster than any other country. This is still a rare piece of good news for the world economy, which is still trying to shake off the worst downturn since the great depression. Analysts believe that Chinas economic recovery is an encouraging and hopeful message for the rest of the world, proving that the economy can recover as long as the epidemic is contained. Source: Chen Hequn, editor in charge of China Daily_ NB12679

If the second quarter represents the recovery of Chinas industrial sector, the third quarter marks the recovery in Chinas consumption sector. In the case of the new crown epidemic in China almost extinguished, relevant departments encourage consumers to go out of their homes and open their wallets.

At the same time, foreign media believe that Chinas economy is an important engine of world growth. Chinas figures have convinced the market that Chinas recovery is on track, according to a report on the 19th. Chinas active containment measures in the early days of the new outbreak have enabled its economy to rebound faster than any other country. This is still a rare piece of good news for the world economy, which is still trying to shake off the worst downturn since the great depression. Analysts believe that Chinas economic recovery is an encouraging and hopeful message for the rest of the world, proving that the economy can recover as long as the epidemic is contained.