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China's annual economic report has boosted confidence in world economic growth


Release:2019-01-24   Edit:Admin   From:Rising steel grating

China's national bureau of statistics has released its 2018 economic data.The "annual report" of the Chinese economy shows that the Chinese economy has delivered a report card of overall stability and progress in the face of challenges of changes in stability.Foreign experts and scholars interviewed by this newspaper believe that China has not only maintained a medium-high rate of GDP growth, but also boosted the confidence of world economic growth with new highlights of economic development.

 

"" China has become an ideal country for global companies to invest and grow.

 

The economic aggregate exceeded 90 trillion yuan for the first time, an increase of 6.6% over the previous year, ranking first among the world's top five economies in terms of growth rate...Against the backdrop of a world economy frustrated by unilateralism and protectionism and a sharp decline in global investment, China's economic report card has not come easily.

 

Sammy kamhavi, executive deputy editor of Egypt's al-ahram newspaper, gave a thumbs up to China's economic performance.He said the data showed that China's structural transformation goals were being achieved and that the government's pro-growth policies had generated momentum."Against the backdrop of many challenges facing the global economy, China has demonstrated its strong macroeconomic regulatory capacity through deleveraging and structural reforms."

 

Hilvan plaschter, an economics professor at the university of Antwerp in Belgium, said the global economy faces huge downward pressure in 2018, with China's economy growing at a commendable 6.6 percent.China has continued to deepen reform, moving steadily from a stage of rapid growth to a stage of high-quality development, and the quality of its economic development has continued to improve.

 

Tang zhimin, director of the china-asean research center at Thailand's charoen pokphand school of management, believes that in the context of a complex and severe external environment, "the improvement of China's business environment and the long-term potential and supply chain advantages of China's economic growth make China an ideal country for global enterprises to invest and grow".

 

"China has adopted a variety of measures to stimulate market vitality, such as releasing liquidity through tax cuts and fees, helping small and medium-sized enterprises reduce burdens, and improving the business environment."Alexei maslov, director of the department of Oriental studies at the Russian higher school of economics, said these policy factors have formed good support for economic development.

 

"" China's supply-side structural reform has achieved good results.

 

Over the past year, China's economy contributed nearly 30 percent to world economic growth, making it the largest contributor to world economic growth.Oleg timofeev, an associate professor at the friendship university of the Russian people, said China's move to open up to the outside world on all fronts shows that international capital is confident in China's economic growth and investment environment.

 

"Open markets are an important engine of economic vitality."According to an yuhua, a finance professor at sungkyunkwan university in South Korea, China is committed to building an open world economy and upholding the multilateral trading system.China's focus on the decisive role of the "invisible hand" of the market will enhance the vitality and attractiveness of the Chinese economy and increase the interest of foreign investors in investing in China."China's increasingly open attitude has made companies around the world more willing to strengthen economic, trade and financial cooperation with China."

 

In 2018, China created 13.61 million new urban jobs, a new record high. For the sixth year in a row, China created more than 13 million new urban jobs.

 

"These economic data show that China's supply-side structural reform has achieved good results."French economist aleta sees deep structural changes in China's economy through the data.He believes China's economy is resilient enough that a strong domestic market and new drivers of growth will create huge demand and create more jobs.

 

In 2018, China's total retail sales of consumer goods exceeded 38 trillion yuan, and the final consumption expenditure contributed 76.2% to GDP growth, more than 10 percentage points higher than the previous year.Ronnie lins, director of the center for China studies in Brazil, said the bright spot for China's economic growth in 2018 is the sharp increase in consumption."China's consumption growth is mainly driven by the increase in residents' income, and the income of rural residents is growing faster than that of urban residents.This is inseparable from the Chinese government's efforts to raise people's income through multiple channels.With the improvement of Chinese residents' income level and the change of consumption concept, the potential of the Chinese market will only be further tapped.

 

"" the Chinese government has ample policy tools to ensure the smooth operation of the economy.

 

At the beginning of the New Year, the national development and reform commission, the ministry of finance and other ministries and commissions of the People's Republic of China proposed practical measures to promote sustainable economic development.Push for bigger tax cuts and more visible cost cuts;Adequate financial support for the real economy...The central economic work conference also made it clear that we will continue to focus on supply-side structural reform, deepen market-oriented reform and open wider to the outside world at a high level.The international community believes that in the complex environment, China's economic growth will continue to be within a reasonable range in the future.

 

Liang guoyong, a senior economic official at the United Nations conference on trade and development (unctad), said the transformation and upgrading of China's economy means the growth of new drivers of development, and continued deepening of reform and opening-up will help address the external challenges of anti-globalization."The Chinese government has sufficient policy tools to ensure the smooth operation of the economy."

 

Japan's institute of international trade and investment chief economist kiyoshi kohara believes that China's supply-side structural reform, tax cuts and expense reduction, expanding domestic demand and other policies are continuously enhancing the resilience and potential of economic growth.Against the backdrop of intensified cyclical pressure on the global economy, China continues to deepen reform and opening-up, and its economic development prospects are worth looking forward to.

 

Quan bingrui, director of the China institute of economics and finance in South Korea, said that in the context of rapid changes in the global business environment, Chinese enterprises are enhancing their competitiveness by increasing investment in science and technology and actively carrying out big data applications, so as to align with global innovation trends, boost consumption upgrading and continuously release the potential of China's economic development.

 

Christian rusher, an economist at the cologne institute of economics in Germany, said the latest Chinese economic data showed the stability and vitality of the Chinese economy, which also attracts foreign investment.China set up more than 60,000 new foreign-invested enterprises in 2018, up 69.8 percent year-on-year, data showed.In the world bank's latest doing business report, China rose 32 places from the previous year.

 

We focused on stimulating market vitality, demand potential and endogenous driving force, and injected dynamism into high-quality economic development through reform and opening up.It is believed that in the future, China's economy will continue to maintain rapid and sound development and continue to make important contributions to global economic growth.