＂China’s economic growth will drive the recovery of the world economy＂
According to data released by the National Bureau of Statistics on the 19th, China’s economic growth turned from negative to positive in the first three quarters, with a year-on-year increase of 0.7%. In the third quarter, it increased by 4.9%, and the growth rate was further accelerated. Faced with the huge impact of the COVID-19 epidemic and the complicated and severe domestic and international environment, China has intensified its macro-policy response, scientifically coordinated the epidemic prevention and control and economic and social development, effectively promoted the recovery of production and living order, and sustained and stable economic recovery. International organizations, foreign media, experts and scholars pay close attention to China’s economic data, and think that China’s economy is the first to recover, which will inject more impetus into the recovery and growth of the world economy.
"This is a great good news."
The data shows that China’s economic growth rate turned positive in the second quarter, increasing by 3.2% year-on-year, and further accelerated to 4.9% in the third quarter, with the main economic indicators showing a good trend.
Bloomberg reported that China’s recovery momentum continued in the third quarter, with GDP increasing by 4.9% year-on-year. In September, the total retail sales of social consumer goods and the added value of industrial enterprises above designated size all showed growth momentum, which convinced the market that the economic recovery was on the right track, and China is expected to become the only major economy in the world to achieve positive growth this year. For the world economy in a severe recession, "this is a great good news."
CNN reported that China adopted strict epidemic prevention and control measures and allocated funds for major infrastructure projects to promote economic growth.
The BBC website reported that the data released by China showed that the pace of economic recovery in China was accelerating. The report quoted Peng Ai Rao, an economist of ING Greater China, as saying: "The jobs created in China are quite stable, ensuring more consumption."
Recently, reports from many international organizations have also conveyed confidence in China’s economy. The World Bank issued a report to raise its forecast for China’s economic growth; UNCTAD predicts that the global economy will face a deep recession, but China’s economy will still maintain positive growth; In the latest World Economic Outlook Report, the International Monetary Fund believes that "China’s recovery is faster than expected", and China will be the only country in the world that maintains positive growth … …
The French newspaper Echo published a report entitled "China with a firm economic recovery outshines others", saying that thanks to solid policy support and amazing export resilience, China’s economy has gradually recovered. Citibank analysts pointed out that China’s imports of iron, copper and crude oil are accelerating, which shows the improvement of investment in infrastructure and the increasingly active business activities in the construction industry.
Many economists are optimistic about the prospects of China’s economic recovery. Ben Powell, chief investment strategist in Asia-Pacific region of BlackRock Investment Research Institute, said that the latest data is further evidence of China’s economic recovery, and China’s economic recovery is being consolidated and deepened. Wen Tuosi, CEO of Standard Chartered Bank, said that China’s response to the epidemic is like a "magic formula", and the world’s second largest economy is recovering at an alarming rate. Julian Evans, Senior Economist of China Capital — Prichard said: "In the third quarter, China’s economy continued to rebound rapidly, its recovery expanded, and its dependence on investment to stimulate the economy decreased. Monthly data show that China’s economic growth will continue to accelerate in the fourth quarter. "
"China’s economic growth will accelerate."
The Wall Street Journal reported that China’s exports have been growing for six consecutive months, exceeding market expectations, and a series of trade data showed that "China’s economy is recovering strongly".
The Associated Press reported that with the economic recovery, the growth rate of China’s import and export trade accelerated in September. Automobile manufacturers and other large manufacturers resumed their normal activities, which helped boost the demand for imported iron ore, copper and other industrial materials. In the second quarter of this year, China became the first major economy to resume growth, and "China’s economic growth rate is expected to accelerate".
Reuters reported that the recovery of consumption has accelerated the pace of economic recovery in China. In the field of tourism, the domestic passenger flow of China civil aviation basically recovered to the same level last year in September. In September, China’s car sales increased for the sixth consecutive month, and American companies also benefited from it. In the third quarter, Ford’s car sales in China increased by 25% year-on-year. According to the report, China’s economic recovery in the third quarter was further clarified, and the growth rate of industry and consumption both rose to the high point of the year in September, which confirmed that China’s economy was recovering upward. With the effect of follow-up policies emerging, it is expected that China’s economy will continue to pick up in the fourth quarter.
China’s fiery consumer market has been widely concerned by the outside world. Powell said that the strong sales data is proof that China consumers have restored their confidence in the employment situation.
The website of the Spanish newspaper Izvestia said that the recovery and growth of China’s consumer market is of great significance. According to the article, data from the National Bureau of Statistics of China show that China’s production demand continues to rise, and the economy continues to recover steadily.
The website of "Deutsche Welle" reported that thanks to strict epidemic prevention measures, China controlled the epidemic in a short time and its economic life recovered faster. In September, the sales volume of narrow sense passenger cars in China increased by 7.3% year-on-year, which continued to maintain a high-speed growth trend, and the automobile consumption market in China was further stabilized.
The article entitled "China’s Rapid Transition to Digital Economy" published by Lianhe Zaobao pointed out that China is expected to become the only major economy with positive growth this year, and the transition of digital economy has contributed greatly. China’s mobile payment, sharing economy, online shopping, robot manufacturing and other fields have shown strong development momentum, becoming new growth drivers and creating a large number of employment opportunities. According to the article, the China Municipal Government has clearly proposed to increase investment in new infrastructure and speed up the construction of 5G and data centers in the next five years, which will promote the economic restructuring of China to a greater extent.
"Vibrant China is welcome."
People from all walks of life in the world spoke highly of China’s overall planning of epidemic prevention and control and economic and social development, and believed that all countries in the world would benefit from China’s economic growth, market rejuvenation and increased domestic demand.
Eswar Prasad, a professor of trade policy at Cornell University in the United States, said that the "wise" use of monetary and fiscal stimulus and effective prevention and control of the epidemic were the main reasons for China’s rapid economic recovery. Louis Gao, head of economic research in Asia of Oxford Economic Research Institute, said that the success in preventing and controlling epidemic situation and maintaining production operation has strengthened China’s role in the global industrial chain value chain.
The Dominican newspaper Today said that China put people’s life safety and health first and took all measures to prevent and control the epidemic. China will build a new development pattern with domestic big cycle as the main body and domestic and international double cycles promoting each other. On the one hand, it will ensure export competitiveness, on the other hand, it will promote domestic consumption, which will promote high-quality economic growth and ensure the realization of poverty reduction goals.
The Spanish newspaper Economist published an article on its website, saying that the pace of economic recovery in China is more solid than that in other major economies in the world. The secret lies in that China has taken rapid and decisive epidemic prevention measures, made significant strategic achievements in epidemic prevention and control, and rapidly reopened all economic and social fields, creating conditions for economic growth. Not only has China’s exports increased significantly, but its domestic demand is also increasing. This summer, most economic activities such as catering, aviation and tourism returned to normal. Fitch International, an international rating agency, believes that "China’s economic growth will drive the recovery of the world economy".
Wilfred Malub, head of Kenya’s export promotion agency, said that China has a huge consumer market and will become an important export target for Kenya and Africa. At present, Kenyan avocado has been allowed to enter the China market, and other agricultural products will soon be qualified. Kenya should focus on agricultural products with competitive advantages, such as coffee, tea, flowers and horticultural products, and enhance the added value of export products.
South Africa’s "Daily Loner" website published an article saying that various data show that China’s economy is accelerating its stabilization and recovery, bringing hope for recovery to emerging market countries including South Africa. "The welcome of a vibrant China will benefit South Africa and other emerging market countries."
(Beijing, Washington, Brussels, Madrid, Bangkok, Rio de Janeiro and Johannesburg, October 20th, by reporters Gong Ming, Wu Lejun, Zhang Penghui, jiang bo, Queena Ding, Li Xiaotong and Wan Yu)