Economic recovery is a wave like development process, and the international community is paying attention to the Chinese economy: long-term positive fundamentals remain unchanged in manufacturing | China | Economy
In the first half of this year, the Chinese economy grew by 5.5% year-on-year, with a growth rate of 6.3% in the second quarter, exceeding market expectations. Meanwhile, in July, the Purchasing Managers Index of China's manufacturing industry was 49.3%, an increase of 0.3 percentage points from the previous month. Zhao Qinghe, Senior Statistician at the Service Industry Survey Center of the National Bureau of Statistics, pointed out that in July, the manufacturing PMI slightly rebounded for two consecutive months, and the overall level of manufacturing prosperity continued to improve.
Currently, in the overall sluggish international economic situation, China has recently introduced a series of favorable economic policies and measures, from developing the private economy to promoting consumption, to boost confidence in economic development, tap into potential momentum, and attract widespread attention both domestically and internationally.
The National Development and Reform Commission of China, together with the State Administration for Market Regulation, the State Administration of Taxation and other departments, recently jointly issued a notice on the implementation of several measures to promote the development of the private economy. Starting from the needs of the private economy and focusing on solving prominent problems of private enterprises, 28 specific measures are proposed from five aspects: promoting fair access, strengthening factor support, strengthening legal protection, optimizing enterprise services, and creating a good atmosphere, in order to stimulate the vitality of private economy development and boost confidence in private economy development.
According to Reuters, following the introduction of guidelines by the Chinese government, the National Development and Reform Commission of China has also issued specific measures, emphasizing the importance of fully recognizing the promotion of private investment. The report also pointed out that multiple Chinese ministries, regulatory agencies, and the central bank have pledged to provide more financing support to small businesses.
Singapore's Lianhe Zaobao reported that the private economy is an opportunity for China's development. The recently released "Opinions on Promoting the Development and Growth of Private Economy" by the Central Committee of the Communist Party of China and the State Council has attracted high attention and expectations from all parties, which is not surprising. The article states that currently, the prospects for China's economy are not bleak because there are still potential reform dividends.
The European Times also published an article pointing out that after half a year of monitoring the muscle repair cycle and various indicator data, combined with the new situation and changes at the macro and micro levels, China's economic policy has once again reached a node of adjustment. According to the latest official analysis, the long-term positive fundamentals of the Chinese economy have not changed, and the recovery of the Chinese economy is a process of wave like development and tortuous progress.
The article emphasizes that the Politburo meeting of the Central Committee of the Communist Party of China has clarified the "how to do" and the increasingly diverse policy tools used in the second half of this year. Whether the Chinese economy, which is in a state of recovery, can emerge from a new revitalization trend will be a key focus of close attention from the international community.
Looking at multi-level data and analysis of international public opinion, it can be seen that due to the current complex international situation and the subsequent impact of the epidemic, the Chinese economy is also facing some pressure and challenges. However, on the basis of providing policy guarantees to various industries and enterprises, vigorously promoting the role of consumption engines, and stimulating the dual circulation power of domestic and foreign markets, the overall situation of the Chinese economy is stable and rising, with a clear development direction and strong and effective resilience.