Let's talk about new opportunities for the Chinese economy with stronger momentum and better prospects - Overseas people expect the Chinese economy to continue to focus on this in the second half of the year. New Energy | China | Economy

Beijing, August 1st (Xinhua) -- Stronger momentum and better prospects - Overseas people expect China's economy to continue to grow in the second half of the year

Xinhua News Agency reporter

Since July this year, China has intensively released a series of new measures to stabilize the economy, which has attracted overseas attention. International observers believe that with the support of macroeconomic policies, positive factors for the overall improvement of the Chinese economy continue to accumulate, and the endogenous driving force will continue to strengthen. It is expected to further unleash its potential in the second half of this year, continue to promote high-quality development, and boost the prospects of the world economy.

Anchoring goals with sustained policy support

In the first half of this year, China's gross domestic product increased by 5.5% year-on-year, significantly faster than the economic growth rate of 3% for the entire year last year and also faster than the average annual growth rate of 4.5% over the past three years due to the pandemic. Many overseas media and experts believe that the Chinese economy is expected to successfully achieve the expected annual growth target of around 5%.

Chen Dong, the head of Asian macroeconomic research at Swiss wealth management firm Baida Group, believes that decision-makers are sending stronger policy support signals, and it is expected that the Chinese economy will accelerate growth in the third quarter.

According to Gonzalo Galan, an economics professor at IE University in Spain, in an interview with Xinhua News Agency, it is expected that the Chinese economy will continue to improve in the second half of the year. Not only will it successfully achieve the annual economic growth target, but it will also continue to boost the prospects of global economic recovery.

This is a photo taken on July 19th of the container terminal in the Jingtang Port area of Tangshan Port.

Many people believe that policy support is significantly improving China's economic expectations and is crucial for the growth prospects in the second half of the year.

Luigi Gambaldera, President of the China Europe Digital Association, said that in the medium to long term, he remains optimistic about the growth prospects of the Chinese economy. The series of targeted policies recently introduced by China, such as effectively optimizing the development environment for private enterprises, will help enhance the resilience of the Chinese economy and further consolidate the growth momentum.

Joseph Lai, founder of Bull Capital, an Australian asset management company, pointed out that China has many outstanding private enterprises and believes that with macroeconomic policy support, it can continue to promote economic development.

The latest report from Goldman Sachs Group shows that global hedge funds are increasing their holdings in Chinese stocks. The report suggests that with the adjustment of economic policies in the second half of the year, the Chinese market has entered a buying window period.

"International organizations and financial giants have high expectations for China's economic growth prospects, which not only affirms China's policies and market, but also reflects China's increasing influence in the global economic landscape." said Chen Baihun, President of the Asian Academy of Digital Economy Sciences in Singapore.

Accumulate kinetic energy to promote high-quality development

"Accelerating the cultivation of strategic emerging industries, vigorously supporting technological innovation, boosting bulk consumption of automobiles, electronic products, home furnishings, and other industries, and promoting consumption of sports, leisure, cultural tourism and other services... Recently, China has released a series of signals in terms of policies, further boosting external expectations and confidence.".

On July 26th, Volkswagen Group announced an injection of approximately $700 million into Xiaopeng Motors to enhance Volkswagen's research and development capabilities in intelligent connected vehicles in China. Volkswagen Group Chairman and CEO, Baird, stated that the Chinese market is highly competitive and dynamic, and deepening local cooperation can help create synergies and better execute the group's "in China, for China" strategy.

The audience visited the Audi booth of FAW Volkswagen at the Changchun Auto Expo.

The strategic emerging industries represented by new energy vehicles are continuously developing and growing with policy support, incentivizing innovation through competition, cultivating markets, and unleashing charm and opportunities.

According to the American news website Acxios, thanks to policy support, healthy competition, and a consumer market that is willing to accept emerging technologies, China's new energy vehicle industry has developed rapidly and achieved a highly competitive transformation in just a few years. China is already the world's largest market for new energy vehicles, and Chinese automotive companies are constantly expanding their overseas markets.

"Not only new energy vehicles, China's green economy is expected to become a new driving force of economic growth, and China will occupy the dominant position in the global supply of new energy." Nihon Keizai Shimbun commented.

According to Xia Huasheng, an economist at the Vargas Foundation in Brazil, the high-tech, digital economy, and new energy sectors are growing rapidly, with increasing weight in the Chinese economy. The transportation, tourism, and other service industries are also gradually recovering, promoting high-quality economic development. "China is constantly moving forward on the right path.".

Starting from 2021, Yucun Village in Zhejiang Province, Xidi Village in Anhui Province, Dazhai Village in Guangxi Province, and Jingzhu Village in Chongqing have successively been selected as the "World's Best Tourist Villages" by the World Tourism Organization, which is another microcosm of China's "Beautiful Countryside" construction.

"China is in a leading position in the field of rural tourism in the world." Sandra Kalwang, Director of Market Information and Competitiveness at the United Nations World Tourism Organization, said in an interview with Xinhua News Agency that rural development cannot do without national policy support. China is one of the countries that attaches the most importance to the role of tourism in promoting rural development and formulates specific policies for it.

Expanding the New Vision of Open and Co drawing Cooperation

After a smooth transition in epidemic prevention and control, the recovery of the Chinese economy is a wave like development and a tortuous progress. Overseas people believe that although the Chinese economy is facing new challenges, under policy signals such as "focusing on expanding domestic demand", "continuously deepening reform and expanding high-level opening up", and "stabilizing the basic situation of foreign trade and foreign investment", the prospects for deepening foreign economic exchanges and achieving win-win cooperation are promising.

According to data released by the Kiel Institute of World Economics in Germany in early July, China's export volume in March set a world record for the country's monthly export volume, driving the recovery of world trade. China has also become the first country in the world to exceed 300 billion US dollars in monthly export value. The latest report from UBS suggests that as consumption further recovers, it is expected that China's import growth will significantly improve in the second half of the year.

"As the largest trading partner of ASEAN, China's economic recovery has a positive driving effect on the countries in the region," said Chen Baihun. "This highlights the role of China's economy as a locomotive and also demonstrates the common development trend of Asian countries closely connected to China's economy."

This is a photo taken on April 25th at the Laos Tour of the East China Expo in Vientiane, the capital of Laos.

Since the beginning of this year, many countries have actively promoted RMB related businesses: CNOOC and Total Energy have completed the first cross-border RMB settlement transaction for liquefied natural gas; The Chinese yuan has surpassed the euro to become Brazil's second largest international reserve currency; Argentina uses Chinese yuan to settle trade in imported goods from China, and for the first time uses Chinese yuan to pay off external debts. It also includes Chinese yuan in the currency allowed for deposit and withdrawal in the country's banking system; Bolivia's state-owned bank, Union Bank, has launched RMB trading business.

"China's expansion of openness and cooperation has boosted the prospects of economic growth and accelerated the recovery of the world economy, which is an important force in promoting win-win cooperation," said Li Tianrong, a columnist for the Philippine Star.