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(Economic Observation) Li Keqiang’s Dialogue with Global Entrepreneurs Releases Three Signs of China’s Economy
China News Service, Beijing, September 16, Title: Li Keqiang’s Dialogue with Global Entrepreneurs Releases Three Signs of China’s Economy
Wang Enbo, reporter for the China News Agency
Chinese Premier Li Keqiang attended the Special Dialogue of Global Entrepreneurs of the World Economic Forum at the Great Hall of the People on the evening of September 15, delivered a speech and interacted with representatives of businessmen. In this video conversation with almost 600 businessmen from around the world, he launched three signals about the Chinese economy.
-Chinese economy has strong resilience
Presenting the current economic situation in China, Li Keqiang said that in the face of the severe impact of the epidemic on the Chinese economy, we have coordinated to promote the prevention and control of the epidemic and economic and social development, and the economy has been stabilized and rebounded. In recent months, the main indicators have maintained a stable recovery trend, indicating The Chinese economy has strong resistance.
The new August economic report card provides footnotes for this. The growth rate of industrial value added above the designated size continued to recover in the month, the cumulative growth rate turned positive, the monthly growth rate of consumption turned positive, and the cumulative growth rate of investment in fixed assets approached a positive turn … As the impact of the southern floods gradually faded, global demand rebounded and domestic economic activities normalized, and credit growth continued to rebound. In August, the Chinese economy continued to recover steadily, with most of the major economic indicators performing better than market expectations.
Li Keqiang emphasized that by retaining hundreds of millions of market entities, especially large-scale small and medium enterprises and individual industrial and commercial households, the goal of creating more than 9 million new jobs in urban areas this year can be achieved, stabilize economic fundamentals and lay the foundation for future development.
—— Positive growth is expected throughout the year
Faced with the epidemic, how to capture the degree of macroeconomic control, not only to effectively cover the impact of the epidemic, but also to be sustainable, is a problem that all major economies are thinking about.
Li Keqiang introduced that China has used reforms to innovate in the implementation of macro policies, establish a mechanism for new fiscal funds to reach the grassroots and directly benefit companies and individuals, improve the timeliness and accuracy of policy implementation, and ensure employment and basic livelihoods for residents in a timely manner. , Ensure that market entities provide support. When implementing macroeconomic policies, we will also focus on deepening the “delegation, regulation and service” reform and optimizing the business environment, which will not only help companies alleviate difficulties but also stimulate the vitality of market entities.
Let’s take monetary policy as an example. As major central banks around the world have adopted ultra-conventional relaxation measures, China does not engage in floods, but instead sticks to a stable currency based on changes in the macroeconomic, financial market and credit system during development of the epidemic. The policy is flexible and appropriate, it maintains the soundness and sustainability of the policy, and it becomes one of the few major economies in the world that still pursues normal monetary policies.
While China’s domestic economy is steadily recovering, there are still great uncertainties in the external environment, and all parties are concerned whether the macroeconomic hedging policy will be relaxed.
Li Keqiang said that in the face of difficulties and challenges, we will focus on policy implementation in the process of maintaining a timely, powerful and reasonable macroeconomic policy. We will also improve and enrich the policy connotation in accordance with changes in the situation, and consolidate the momentum of economic stabilization and recovery. “Through hard work, China’s economic development can achieve the expected main annual goals, and the economy is expected to achieve positive growth throughout the year.”
-Let the world economy “live”
Under the epidemic, protectionism and unilateralism are on the rise, and the prospects for recovery in the world economy are unclear. Li Keqiang said that it is necessary to jointly safeguard trade and investment liberalization and facilitation, restore the global industrial chain and supply chain as soon as possible, and make the world economy “alive”.
China, which is deeply integrated into the world, has worked hard to achieve this. The China International Trade in Services Fair 2020, which ended not long ago, is one example. During the 6-day event, 22,000 companies and organizations from 148 countries and regions participated in the online and offline exhibition. A series of new opening policies and measures were first launched and a large number of intentions and transaction outcomes were achieved.
Fu Chenggang, China’s senior representative from the Abu Dhabi International Financial Center, who attended the conference, told reporters from the China News Agency that in the field of trade in services, China has shown a strong recovery after the epidemic and can provide high-quality markets, products and services to all parties. Currently, no economy in the world is more stable than China and has such strong certainty in the face of the challenge of the epidemic.
Under the new “dual cycle” pattern, the enormous potential contained in China’s domestic market is expected to continue to help “invigorate” the world economy.
Li Keqiang revealed that China will continue to relax market access, protect the legitimate rights and interests of foreign investors, and create a market environment in which domestic and foreign companies are treated with equality and fair competition. Under the premise of effective prevention and control of the epidemic, China will open more “fast channels” for the exchange of personnel and “green channels” for customs clearance of goods to bring convenience to the transnational operations of companies. (Finish)
