Xinhua News Agency, Beijing, July 17 (international observation) Resilience is as expected and stable-overseas people hotly discuss China’s semi-annual economic report
Xinhua News Agency reporter
The economic data for the first half of this year released a few days ago showed that China’s economy, facing the impact of unexpected unexpected factors, overcame difficulties and maintained growth, showing a trend of stabilization and recovery. Overseas observers believe that the current world economy is facing challenges such as high inflation and increased recession risks. It is not easy for the Chinese economy to achieve the current results in an extremely unusual development environment, showing resilience and potential, and its long-term healthy fundamentals will continue. Bring confidence and opportunities to the world economy.
Solid economic foundation showing resilience
The latest data shows that in the first half of the year, China released a series of positive signals in areas such as economic growth, price levels, manufacturing, and foreign trade. Gross domestic product (GDP) grew by 2.5% year-on-year in the first half of the year and achieved positive growth in the second quarter.
Observers pointed out that China’s economic foundation is solid and resilient, and it maintains favorable factors to support growth. Its stabilization and recovery is also an important benefit to the world economy.
Gu Qingyang, an associate professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore, said that with the rapid recovery of China’s domestic industrial chain and supply chain, China’s economy has shown strong vitality and resilience.
Kenyan economist Beatrice Mathiri-Myssori said that China’s economy has a solid foundation. Against the backdrop of repeated COVID-19 outbreaks and complex and ever-changing international situations, the economic data in the first half of the year showed the world the resilience of China’s economy.
Fu Xiaolan, director of the Technology and Management Development Research Center at Oxford University in the United Kingdom and academician of the British Academy of Social Sciences, told reporters that the data in the first half of the year showed that the foundation of China’s economy was solid. In addition, the steady recovery of China’s economy provides important support for the normal operation of the global industrial chain and supply chain, and is of great significance to stabilizing the world economy.
Huang Weixiong, dean of the New Zealand Business School, said that as China strengthens the implementation of a package of policy measures to stabilize the economy, the policy effect will be further released, the economy is expected to continue to recover in the second half of the year, and the economic operation will return to a reasonable range.
Policies are made precise and the market is stable
In response to the downward pressure on the economy, the Chinese government has effectively guided market expectations and smoothed the national economic cycle. The seven major policies of macro, micro, structure, science and technology, reform and opening up, regions, and society have been accelerated, and incremental policy tools have been planned and launched to stabilize the macroeconomic market.
Observers have noticed that China adopts precise policies and does not engage in “flooding”-style strong stimulus, and stabilizes the price level with a policy combination of ensuring supply and stabilizing prices, and reserves policy space for future economic downward pressure.
Warbidov, chairman of the Fergana branch of the Uzbekistan Journalists Association, said that under the pressure of global inflation, the increase in consumer prices in China was significantly lower than the level of more than 8% in Europe and the United States, in sharp contrast to the high international inflation.
Humphrey Mosey, director of the China Research Center at the University of Dar es Salaam in Tanzania, said that China’s scientific and sound policy measures have achieved good results in controlling prices, and also provided other countries with lessons to learn from.
The Governor of the Bank of Thailand, Setabh Suthwanalub, believes that China has enough policy space to deal with the downward pressure on the economy, and the medium and long-term prospects remain optimistic.
The market potential is huge and the prospects are determined
According to data from China’s Ministry of Commerce, from January to May this year, China’s actual use of foreign capital was 564.2 billion yuan, a year-on-year increase of 17.3%. In the first quarter, 72.1% of foreign-funded enterprises increased their capital in China by more than 5%. According to the 2022 White Paper for American Businesses in China recently released by the American Chamber of Commerce in China, 83% of the surveyed companies do not consider moving production or procurement outside of China.
Observers believe that China’s large-scale market and stable industrial and supply chains are still favored by foreign investment in the medium and long term.
Anna Marimborg-Uy, a researcher at the BRICS Policy Research Institute in the Philippines, pointed out that the Chinese market is large and consumers have strong purchasing power. A relatively modern economic system, first-class infrastructure and high-quality labor resources are the reasons why China continues to attract foreign investment.
A report jointly released by the European Union Chamber of Commerce in China and the German Mercator China Research Center in June this year pointed out that most European companies are optimistic regarding China’s huge market potential and the rapid commercial application of R&D results, and will increase their R&D spending in China this year.
Herbert Diess, chief executive of Germany’s Volkswagen Group, said in early July that Volkswagen was making major investments in China and would hire “thousands” of software engineers.
International observers believe that in the long run, the general trend of China’s economic stability, transformation and upgrading, and high-quality development has not changed. A China that is constantly expanding its opening-up and is committed to making development dividends benefit the world, the world is full of expectations.
