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Original title: News observation | International institutions raise China’s economic growth expectations against the growth trend Fully demonstrates China’s economic resilience and vitality Source: CCTV.com
CCTV News: Affected by factors such as the new corona pneumonia epidemic ravaging the world, the international economy has been affected this year and there has been a “low” sound. However, China has achieved remarkable results in the general promotion of epidemic prevention and control and economic and social development, and the economy has been able to maintain a growth momentum, demonstrating the resilience and vitality of the Chinese economy. The international rating agency Moody’s dramatically raised China’s economic growth forecast in 2020. The international community agrees that among the world’s major economies, China may be the only country that can sustain positive growth this year, and global market players are also taking practical steps. , Cast a vote of confidence in the Chinese economy.
International credit rating agency Moody’s recently released the latest report, raising China’s GDP growth forecast for 2020 from 1% to 1.9%, an increase of almost double. China is also the only economy whose growth forecast for 2020 has been raised by Moody’s this time. Furthermore, Moody’s forecast for China’s GDP growth in 2021 remains at around 7%.
The Chinese economy recovered strongly in the second quarter of this year, and the growth rate went from -6.8% in the first quarter to 3.2% in one go, which is an important reason for Moody’s to substantially raise China’s economic expectations. In fact, China has achieved remarkable results in the general promotion of epidemic prevention and control and economic and social development, which has been widely praised by the international community. The IMF released a report in June that the Chinese economy is recovering from the sharp contraction in the first quarter. The growth rate in 2020 is expected to be 1.0% and China’s economic growth is expected to recover to 8.2% in 2021. S&P Global Ratings believes that China’s economic growth rate is above average and It is estimated that the growth rate of the average real GDP per capita in the next three years will be 5.5%. Mike Henry, CEO of Australian mining giant BHP Billiton, recently said that China’s economy has become a “global bright spot” and is showing a “very strong V-shaped rally.” The Chinese government has adopted a series of policy measures to inject momentum for further economic development, and the effects are expected to continue to show.
Those who cast a vote of confidence in China’s economy are also market players scattered all over the world, especially foreign trade companies and foreign companies. In the first seven months of this year, China’s actual use of foreign capital was 535.65 billion yuan, an increase of 0.5% year-on-year, of which the use of foreign capital in July increased by 15.8 %. This shows that investment expectations and foreign businessmen’s confidence in China have stabilized and improved. Especially in the fields of high-tech service industries, such as information services, R&D and design services, and professional technical services, multinational companies have “overloaded confidence” in China’s economy and its rate. investment growth increased 27.4% year-on-year.
In terms of foreign trade, customs data shows that in July this year, China’s foreign trade imports and exports were 2.93 trillion yuan, a year-on-year increase of 6.5%, of which exports increased by 10.4% and imports increased 1.6%. The double growth of China’s imports and exports indicates that China’s supply and demand for the international market is expanding, which is of vague significance in international trade.
Experts said that in the context of the spread of the epidemic abroad and global economic stagnation, the Chinese economy was able to quickly return to the path of high-quality development after pressing the “reset button”, which fully demonstrated the resilience and vitality of the Chinese economy. The new development pattern with the national grand cycle as the main body and the mutual promotion of the national and international double cycles will continue to promote the stability and long-term development of the Chinese economy.
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