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(Economic Observer) Dialogue with Li Keqiang, Director of Six Major International Institutions, Reveals China’s Economic Trend
China News Service, Beijing, November 25
China News Agency reporter Li Xiaoyu
Chinese Prime Minister Li Keqiang at the Diaoyutai State Guesthouse on the evening of November 24 with World Bank President Malpass, International Monetary Fund (IMF) President Georgieva, World Trade Organization Deputy Director General Wolf, and the International Labor Organization. Director General Ryder, the Secretary General of the Organization for Economic Cooperation and Development Guria and the Chairman of the Financial Stability Board, Quarles, held the fifth round table “1 + 6” and met with journalists.
This meeting gave an answer on how to look at the current state of China’s economy and what to do with future economic work.
-Expecting the Chinese economy to return to a reasonable operating range next year
Li Keqiang said that in the face of the severe impact of the new corona pneumonia epidemic, we coordinate the prevention and control of the epidemic and economic and social development, stabilize employment and economic fundamentals, and China’s economy can achieve a positive growth throughout the year. This is not easy. The Chinese economy is sure to achieve positive growth this year, and we expect to return to a reasonable operating range next year.
Analysts believe that considering that the momentum of China’s economic recovery is still building, it is expected to return to normal next year.
According to official data, China’s manufacturing industry purchasing managers index (PMI) has been above 50 for eight consecutive months, indicating that the expansion of enterprise production activities is based on a solid foundation; investment and consumption are also accelerating the recovery.
Liu Yuanchun, vice president of Renmin University of China, said that the comprehensive implementation of macroeconomic policies and comprehensive deepening of reforms have continuously improved the supply and demand extremes of the Chinese economy, and the economic fundamentals have become more stable, which will continue to enhance the endogenous driving force of economic operations.
According to Zhu Jianfang, chief economist at CITIC Securities, China’s economy will not only function normally again in 2021, but it may also become one of the top economies with the highest economic growth in the world. It is expected to continue to play the role of “engine” of the global economic recovery. .
——Maintain the continuity, effectiveness and sustainability of policies
Li Keqiang said that during the “XIV Five-Year Plan” period, we will focus on development, manage our own affairs well, continue to innovate and improve macro control, and maintain policy continuity, effectiveness and sustainability.
Maintaining the continuity of the policy means that China will continue to implement a proactive fiscal policy and a prudent and flexible monetary policy, strengthen the employment priority policy and provide the market with a stable outlook; while the focus on the effectiveness and sustainability of the policy indicates some epidemics. “Unconventional” measures during the period may be gradually withdrawn as the economic situation changes.
Liu Shangxi, president of the Chinese Academy of Fiscal Sciences, believes that reducing general uncertainty and preventing and dissolving public risks are important tasks for China during the “XIV Five-Year Plan” period. Only when policies are continuous, effective and sustainable can they increase the certainty of China’s development.
-More efforts to expand the opening
Li Keqiang said, we will build a new development pattern, expand domestic demand and promote the openness of others, build a strong domestic market, unlock the internal cycle, promote higher levels of openness, strengthen intellectual property protection, encourage Fair competition between domestic and foreign companies and attract more More foreign investment in China also enables Chinese companies to globalize and achieve greater mutual benefits and win-win results.
He said that China’s economy has been deeply integrated into the world economy, and we will make greater efforts to open up to the outside world in the process of expanding domestic demand and sharing opportunities with countries around the world.
Under the epidemic situation, China’s opening-up pace has not slowed down this year, but has accelerated. From the establishment of a series of new pilot free trade zones, to the continuous reduction of the negative list of access to foreign investment, the expansion of the opening of the service industry and the acceleration of the negotiations of the free trade agreement , a series of opening-up measures have not only enhanced China’s attraction to global investors. It has helped accelerate the recovery of China’s economy and has also injected new growth points into the world economy.
Chi Fulin, director of the China Development and Reform Research Institute (Hainan), said that as a large country with a population of 1.4 billion and more than 400 million middle-income groups, China will expand domestic demand at the same time. which will open up a strong domestic market, which will not only promote the country to achieve high quality. Development also helps the world share the dividends of China’s reform and opening-up.
Earlier, officials repeatedly proposed on different occasions to expand the openness of education, healthcare, digital economy and other fields, introduce a negative list of cross-border services trade, and negotiate and sign high-level free trade agreements with more countries. It is reasonable to predict that the opening of China in the next year will achieve new results in these areas. (End up)
