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 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.

Maintaining policy continuity means that China will continue to implement a proactive fiscal policy and a steady and flexible monetary policy, strengthen employment priority policy, and give stable expectations to the market; while paying attention to the effectiveness and sustainability of policies indicates that some unconventional measures during the epidemic period may gradually withdraw with the change of economic situation.

Liu Shangxi, President of the Chinese Academy of financial Sciences, believes that reducing overall uncertainty and preventing and resolving public risks are important tasks for China during the 14th five year plan period. Only when the policy has continuity, effectiveness and sustainability can it increase certainty for Chinas development.

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.

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.