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Foreign media pay attention to China’s multiple economic data at the end of the year and hit a new high. China ranks first in world economic recovery (International Forum)
The China-Europe “Chang’an” train is loading and unloading containers at Xi’an Xinzhu Station.
Photo by Xinhua News Agency reporter Shao Rui
According to the latest data released by China’s National Bureau of Statistics, the People’s Daily showed that the added value of industrial companies above the designated size across the country increased 7% year-on-year in November. Total retail sales of consumer goods in November increased 5% year-on-year, both above the growth rate in October. From January to November, national investment in fixed assets increased 2.6% year-on-year, faster than the growth rate of the previous 10 months; private investment increased 0.2% and the growth rate turned positive for the first time this year. From January to October, the total profits of industrial companies above the designated size nationwide increased 0.7% year-on-year, and the operating income of service companies above the designated size increased 0.3% year-on-year . The growth rate went from negative to positive for the first time in the year. For the first time, China’s multiple economic indicators have “turned positive” and the growth rate of multiple indicators has reached new highs.
The foreign media has paid close attention to this and made positive predictions: The steady recovery of the Chinese economy will add a splash of color to the turbulent world economy in 2020, and the sustained growth of the Chinese economy is expected to provide strong force. driver for global economic recovery in 2021.
Impressive data
“On December 15, the China National Bureau of Statistics released very dazzling data on China’s economic development. These data left a deep impression on economists.” The website of the Russian weekly “Expert” mentioned in the report.
The Bloomberg News website published a report titled “China just shows how the world needs it,” saying the world needs China more than ever. The latest data shows that in November, the added value of China’s industrial enterprises above the designated size increased 7% year-on-year, and total retail sales of consumer goods increased 5% year-on-year. From January to November, investment in national fixed assets increased 2.6% year-on-year. These data are in line with the forecasts of economists. Given the slow consumer response to the recovery that began in the second quarter, the strong 5% year-on-year growth in retail sales is particularly encouraging. China may be the only major economy to achieve growth this year.
The website of the US magazine “Fortune” reported that in 2020, the new corona pneumonia epidemic has affected the world economy, but China is a clear exception. This year, the world’s gross domestic product (GDP) will fall by 3.5%. Morgan Stanley predicts that the GDP of the United States will fall 3.5%, while the GDP of Europe will fall 7.2%. At the same time, he expects China to achieve positive GDP growth in 2020. China has become a special case among the world’s leading economies.
The US Consumer News and Business Channel reported that a series of economic data recently released by China showed the continued recovery of the Chinese economy. China’s annual GDP will grow and foreign exchange reserves will remain stable. In his survey report for the fourth quarter of 2020 released by the Global CFOs Committee, he raised expectations for China’s economic outlook, believing that China is gradually shedding the haze of the new corona pneumonia epidemic and achieving economic growth. Respondents to this survey also raised China’s economic outlook from “stable” in the third quarter to “moderate improvement.”
The US website “Wall Street Journal” reported that in November, economic activity in China generally recovered with strong momentum. Industrial production, investment and consumer spending grew at a faster rate, further consolidating its status as the second largest economy in the world.
Several indicators send positive signals
“Increasingly busy ports and container supply shortages are sending positive signals that China’s foreign trade is gradually heating up.” Singapore’s Lianhe Zaobao reported that China’s latest export container shipping index reached a record high and the supply of containers is in short supply. This is mainly due to Due to the rapid growth of China’s exports. By tracking the prices of spot and contract freight of China’s container ports on 12 global routes as of Dec 11, the average China Container Freight Index (CCFI) is 1411.9. As of the end of May this year, the CCFI has increased by almost 70%.
Reuters reported that according to data released by the People’s Bank of China, China’s foreign exchange reserves increased by $ 50.51 billion at the end of November to reach $ 3.1785 trillion, the highest level since August 2016. According to the Report, China’s foreign exchange reserves increased in November more than expected due to China’s continued economic recovery, which is leading the global economy to recover from the new corona pneumonia epidemic.
The leading French economic daily “Echo” reported that, according to data from Chinese customs, the total value of foreign trade imports and exports has achieved positive growth for six consecutive months. The export growth rate in November was almost double that of October, reaching since March 2018. The highest level since then. In addition, Chinese exports of medical equipment and supplies and electronic products used for remote offices have increased significantly, and exports of products for year-end festivals, popular electronic products and high-tech products have also increased significantly. Due to strong exports, China posted its largest trade surplus in 40 years that month.
The website of the US magazine “Fortune” reported that in the second quarter of this year, when most countries were still at the peak of epidemic prevention and the first wave of epidemics, Chinese factories have gradually resumed work and production, and cities have gradually resumed their normal operations. China’s economic recovery provided the much-needed boost and the Chinese economy was able to recover quickly.
Reuters reported that China’s economy has made an impressive recovery, driven mainly by strong exports. In addition, the annual promotional campaign launched by the Chinese e-commerce giant in November also opened consumers’ wallets, thus further increasing orders from small businesses.
Strong growth fuels global recovery
“These data are encouraging.” Mexico’s “Financiero” commented on the latest important data released by China’s National Bureau of Statistics in its report. The Chinese economy is expected to become the only economy that has achieved positive growth among the world’s major economies. The world economy needs the support of the Chinese economy more than ever. The rebound of the world economy in 2021 will depend on China’s continued strong recovery.
According to Bloomberg News, at the recent Communist Party of China Politburo meeting, the Chinese leadership set a goal of doubling total economic output or per capita income by 2035. Economists predict that China’s economy will recover sharply in 2021, with an increase of 8.2%.
Reuters reported that Julian Evans Pritchard, senior economist at Capital International Macroeconomics Consulting, noted in a research report: “In November, China’s economy continued to accelerate in various fields. Production in the coming quarters will continue to be above trend levels. although the tailwinds of the stimulus measures and exports have started to weaken. ” Driven by stronger demand, credit growth and stimulus measures, China’s economic recovery will accelerate in the fourth quarter These factors are expected to form a strong tailwind in 2021.
The latest World Economic Outlook report released by the Organization for Economic Cooperation and Development predicts that China will contribute more than a third of global economic growth in 2021. The organization believes that “China will be an important driving force for growth. economic world in the future “.
“China’s economic growth is still continuing. This is a gift to the world economy!” Reported Deutsche Bank. Deutsche news agency reported that China’s example shows that the epidemic crisis cannot affect the economy for long. Once the epidemic is over, economic growth will resume soon. This is good news for Germany and Europe.
“A healthy Chinese economy is good for the world.” The Colombian “The Spectator” published an article in which it said that China has effectively controlled the epidemic and promoted the accelerated restoration of production and order of life. At the same time, China’s economic recovery is leading the world. It can be seen from the import and export data and the economic growth data that “China offers huge market opportunities for the development of various regions.”
