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Strong international commentary 丨 China’s new development pattern is starting well and the global economic recovery is more powerful
CCTV News Client 2020-12-20
As an important window for the outside world to observe the unfolding of China’s macroeconomic policy, this year’s Central Economic Work Conference has attracted much attention.
The annual Central Economic Work Conference was held in Beijing from December 16 to 18. The meeting summarized the economic work in 2020, analyzed the current economic situation and rolled out the economic work in 2021. It laid out the requirements to “build a new pattern of development and take the first step next year and see the new climate” and “strive for keeping economic operations within a reasonable range. ” Doing a good job in next year’s economic work provides clear guidance and brings stable expectations and mutually beneficial opportunities for China’s economic development in the world.
As an important window for the outside world to observe the unfolding of China’s macroeconomic policy, this year’s Central Economic Work Conference has attracted much attention. This is because 2021 is the first year of China’s fourteenth five-year plan, which is of particular importance in China’s modernization process. On the one hand, the world economy is deeply mired in quagmire due to the impact of the new corona pneumonia epidemic. As the only major economy in the world that has achieved positive growth, China has “delivered an answer to the satisfaction of the people, to the attention of the world, and that can be recorded in history. They have cast a “vote of confidence” for China’s development and hope that China will convey more confidence and strength and continue to become a powerful engine of world economic growth.
How to see the current economic situation? Judging from the decision and the deployment of the Central Economic Work Conference, China clearly has a clear understanding. While China’s economy has seen a new level last year, the meeting clearly noted that there are many uncertainties in changes in the epidemic and the external environment. The foundation for China’s economic recovery is not yet solid. The world economic situation next year will remain complex and serious. It strengthens the sense of concern and strengthens the confidence to win. ”This kind of objective and rational cognitive judgment, without arrogance or recklessness, undoubtedly offers a solid guarantee for China’s sustained economic recovery and high-quality development.
What will macroeconomic policy be like next year? The meeting clearly stated that “continuity, stability and sustainability must be maintained” and that “policy operations must be more precise and effective, and there must be no sharp turns.” This point has attracted prominent attention from Reuters and other international media. For the world, China’s declaration is like a “tranquility”, injecting stable expectations in the recovery of the world economy, reflecting the responsibility of a responsible important country.
At the same time, the meeting proposed that “a proactive fiscal policy must improve quality and efficiency and be more sustainable” and “a prudent monetary policy must be flexible, precise, reasonable and appropriate.” Such an arrangement is precisely tailored to the needs of the current economic recovery which requires a stable long-term macroeconomic policy environment and will further promote the steady progress of the Chinese economy on the path of recovery.
It is worth noting that China has emphasized on many occasions that the construction of a new development pattern is by no means a closed internal single cycle, but an open and mutually reinforcing national and international dual cycle. This meeting also emphasized this point and laid out eight tasks for next year’s economic work. Among them, measures such as “adhering to the strategic basis of expanding domestic demand” and “comprehensively promoting reform and openness” have shown the world a win-win opportunity.
The expansion of domestic demand is not only the meaning of the domestic cycle, but will also effectively help the international cycle, “let the Chinese market become the world market.” The meeting emphasized that “effective institutional arrangements must be made in terms of rationally guiding consumption, saving, investment, etc.” and detailed arrangements will be made that will help form a strong domestic market and strongly support the construction of a new pattern of development.
At the same time, the meeting emphasized “strengthening international macro policy coordination”, “creating a market-oriented, rule of law international business environment” and “actively considering joining the Comprehensive and Progressive Trans-Pacific Partnership Agreement.” From this it can be seen that China’s openness is moving further towards the institutional level of rules, regulations, administration and standards, demonstrating China’s determination to implement “a broader scope, broader fields and a deeper opening” .
Not only that. The meeting stressed that “we must continue to raise the flag of multilateralism, actively participate in the reform and improvement of global governance, and promote the building of a community with a shared future for humanity.” This is of great importance in the current counter-current globalization confrontations. It shows that China is determined to provide greater support for multilateralism, promote a fairer and more reasonable global governance system, and enhance the well-being of all humanity.
According to the plan, during the period of the “XIV Five-Year Plan”, China will begin a new journey of comprehensive construction of a modern socialist country. Taking reform and innovation as the fundamental driving force, meeting people’s ever-increasing needs for a better life as the fundamental goal, and taking high-quality development as a good start for the “XIV Five-Year Plan”. A China with clear goals and steady development will be steadfastly managed This will inject further impetus to the recovery of the world economy!
(International sharp commentator)
Publisher: Bao She
