Chinas economic trend next year

 Chinas economic trend next year

On the evening of November 24, Premier Li Keqiang held the fifth 1 + 6 round table pairing with World Bank President marpas, International Monetary Fund (IMF) President Georgieva, World Trade Organization Deputy Director General Wolfe, international labor organization director general Ryder, Secretary General of the organization for economic cooperation and development guria and Chairman of the financial stability Council kwars at the Diaoyutai State Guesthouse He held talks and met with reporters together.

The meeting gave answers to the issues of concern at home and abroad.

u2014u2014Expect Chinas economy to return to a reasonable operating range next year

China not only took the lead in controlling the epidemic and returning to work and production, but also led the world in economic recovery. Many international organizations, including China, were expected to achieve economic growth this year.

Novel coronavirus pneumonia is facing serious impact, we have coordinated the epidemic prevention and control and economic and social development, and stabilized the basic employment and economic base. Li Keqiang said that Chinas economy can achieve positive growth throughout the year, which is very difficult. Chinas economy is sure to achieve positive growth this year and expects to return to a reasonable operating range next year.

He said that the stable recovery of Chinas economy has benefited from the implementation of a series of policies to help enterprises bail out the market players. If we keep the main body of the market, we can keep employment, if we have employment, we can have income and consumption, and we can promote economic growth; we can also benefit from the parallel promotion of reform and opening up, stimulate the vitality of market entities and the endogenous driving force of development; we also benefit from Chinas huge domestic demand market.

Analysts believe that, given that the momentum of Chinas economic recovery is still gathering, it is expected to return to normal track next year.

According to official data, the purchasing manager index (PMI) of Chinas manufacturing industry has been above 50 for eight consecutive months, indicating that the expansion foundation of enterprises production activities is quite solid, and the recovery of investment and consumption is also accelerating.

Liu Yuanchun, vice president of Renmin University of China, said that the comprehensive implementation of macroeconomic policies and comprehensive deepening of reform will continuously improve the supply and demand of Chinas economy and make the basic economic situation more stable, which will continue to enhance the endogenous driving force of economic operation.

According to Zhu Jianfang, chief economist of CITIC Securities, Chinas economy will not only return to normal operation track in 2021, but also may become one of the major economies with the highest growth rate in the world. It is expected to continue to play the role of engine for global economic recovery. During the epidemic period, Chinas economic growth has contributed more to the world than during the 2008 global financial crisis.

u2014u2014Maintaining continuity, effectiveness and sustainability of policies

Li Keqiang said that during the 14th five year plan period, we will focus on development, do our own business well, continue to innovate and improve macro-control, and maintain the continuity, effectiveness and sustainability of our policies.

u2014u2014Greater efforts should be made to expand opening up to the outside world

Li Keqiang said that we will build a new development pattern, expand domestic demand and promote opening to the outside world, build a strong domestic market, smooth the domestic circulation, promote higher level opening up, strengthen the protection of intellectual property rights, encourage fair competition between domestic and foreign-funded enterprises, attract more foreign investment to China, and let Chinese enterprises go to the world to achieve greater mutual benefit and win-win results.

He said that Chinas economy has been deeply integrated into the world economy. In the process of expanding domestic demand, we will make greater efforts to expand opening up and share opportunities with other countries in the world.

Under the circumstances that the epidemic situation has led to the instability and uncertainty of the world economy, the pace of Chinas opening up this year has not slowed down, but has been speeding up. From the establishment of a number of new pilot free trade zones, the continuous reduction of the negative list of foreign investment access, the expansion of service industry opening, and the acceleration of FTA negotiations, a series of measures to expand the opening up have not only enhanced Chinas attraction to global investors, but also accelerated the recovery of Chinas economy, and injected new growth points into the world economy.

Chi Fulin, President of the China (Hainan) reform and Development Research Institute, said that as a big country with a population of 1.4 billion and a middle-income group of more than 400 million, Chinas market is both Chinas and the worlds. Chinas opening up of its powerful domestic market while expanding domestic demand can not only effectively release the huge market potential, promote Chinas high-quality development, but also help the world share the dividend of Chinas deepening reform and opening up.

Previously, the government has repeatedly proposed on different occasions that it will expand the opening up of education, health care, digital economy and other fields, issue a negative list of cross-border service trade, and negotiate with more countries to sign high-standard free trade agreements. It is reasonable to expect that Chinas opening-up will achieve new results in these areas in the coming year.