久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

China's growth to boost world economic recovery

Xinhua | Updated: 2020-12-18 14:26
Share
Share - WeChat
Aerial photo taken on Oct 15, 2019, shows a view of the Lujiazui area in Shanghai. [Photo/Xinhua]

BEIJING - As the year is drawing to a close, China's economic rebound from COVID-19 is gathering pace as mirrored by improvements in key growth figures, which, for many market watchers, are a boon for the world economy still scrambling to shake off the severest recession in nearly a century.

In the latest World Economic Outlook, the International Monetary Fund (IMF) projected China's economy to grow by 1.9 percent in 2020, 0.9 percentage points above its June forecast, making China the only major economy that will see positive growth this year.

"With the right mix of supportive macroeconomic policies focused on strengthening social safety nets and further key reforms, China will secure the recovery and ensure balanced and high-quality growth, which will benefit China and the world," said IMF Managing Director Kristalina Georgieva.

Rebound on track

A set of early indicators had shown that an across-the-board recovery of the world's second-largest economy was firmly on track.

In November, the purchasing managers' index for the manufacturing sector, the main gauge of factory activities, reached 52.1 -- well above the boom-bust line of 50 and representing the highest level of the year.

Accounting for more than half of China's GDP growth, the service sector has long been one of its main economic barometers. Last month, the sub-index for business activities in the service sector rose to 55.7, also the highest level of the year.

In terms of foreign trade, the revival continued too, as both new export orders and import sub-indexes hit a year-high and stayed in the expansion territory for three consecutive months.

Some China watchers are concerned that the country's recovery is unbalanced, with a faster rebound in the industrial sector and declining consumer spending, despite the latter being emphasized by the leadership as a leading driver amid a broader shift toward consumption-oriented growth.

In yet another encouraging sign, the consumption sector rebounded too. In November, China's retail sales of consumer goods went up by 5 percent year-on-year to 3.95 trillion yuan ($604.7 billion), up from the 4.3-percent gain in October after positive growth in August.

More vigorous consumption recovery became apparent during this year's Singles' Day shopping festival, which yet again shattered a string of records from total sales volumes of participating brands.

Boosted on the rebound, global chief financial officers (CFOs) have upgraded China's economic outlook to "Modestly Improving" for Q4 from "Stable" in Q3, showed a survey by the CNBC Global CFO Council, which gathers around 150 CFOs of some of the world's largest companies.

The CFOs responding to Q4's survey feel more optimistic about the Chinese economy, the survey said.

Positive spillovers

At a time when the coronavirus-triggered recession looms large globally, China's pace of expanding opening-up has been accelerating, generating positive spillover effects on the world economic recovery.

China signed the Regional Comprehensive Economic Partnership agreement with other participating countries in mid-November. The world's largest trade pact will likely open up more sectors and promote business flow among signatories.

It is conducive to boosting regional trade, and the spillover effects of China's growth will improve the economic recovery of participating countries, according to Steven Zhang, the chief economist at Morgan Stanley Huaxin Securities.

Amid efforts to nurture fertile ground for foreign businesses to thrive, China has this year implemented the Foreign Investment Law, trimmed the negative list for foreign investment, and eased foreign access to the financial market.

Merlin Swire, chairman of Swire Pacific Limited, welcomed China's ongoing policy of a higher-level opening-up, saying that foreign investors have experienced strengthened investor protection, a more leveled playing field, and a better business environment.

Focusing on future high-quality growth, China has put forward a new development pattern of "dual circulation," to forge better connectivity between internal and external markets.

Huang Qifan, vice-chairman of the China Center for International Economic Exchanges, saw the new paradigm as China's remedy to a global economy still mired in the doldrums.

China's massive demand is estimated to generate over $27 trillion of imports of goods and services in the following 10 years. It will surely provide a lasting boost to global revival in the post-pandemic era, Huang added.

"It is clear that no economic recovery from the current global economic slowdown is possible without China being a major part of the equation," noted Rohana Mahmood, chair of APEC Business Advisory Council.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 在线观看日韩www视频免费 | 国产成人免费全部网站 | 一级毛片免费播放视频 | 国产精品青草久久久久福利99 | 日韩欧美一区二区三区免费观看 | 成人合集大片bd高清在线观看 | 成人高清 | 亚洲精品视频专区 | 99久久精品视香蕉蕉er热资源 | 免费a视频在线观看 | 久久精品国产第一区二区 | 国产成人在线网址 | 成人精品视频一区二区三区 | a毛片免费播放全部完整 | 在线欧美视频 | 久久久久久综合一区中文字幕 | 欧美在线a | 国产三级香港三韩国三级 | 肥婆毛片 | 99国产精品热久久久久久夜夜嗨 | 精品国产欧美另类一区 | 欧美日韩一区二区三区在线视频 | 我们2018在线完整免费观看 | 亚洲第一网站在线观看 | 日韩一级片网址 | 成人影院vs一区二区 | 国产va免费精品高清在线观看 | 97精品国产高清在线看入口 | 欧美videofree性欧美另类 | 亚洲成人福利 | 成人免费观看永久24小时 | 日本一区二区免费在线观看 | 日本三级网站在线线观看 | 国产精品99r8免费视频2022 | 久久精品国产亚洲网址 | 国产精品高清久久久久久久 | 欧美扣逼视频 | 日本精品在线观看 | 国产精亚洲视频 | 普通话对白国产情侣自啪 | 高清一本之道加勒比在线 |