Talking about New Opportunities in China's Economy | Exclusive Interview: China's Economic Recovery Momentum is More Obvious -- Interview with Vice Chairman of the British Chamber of Commerce in China, David Tucker | Economy | China
Xinhua News Agency, Beijing, September 12 (Xinhua) - China's economic recovery is becoming more apparent - Interview with Tao Kerui, Vice Chairman of the British Chamber of Commerce in China
Xinhua News Agency reporter Xu Supei and Su Liang
Tao Kerui, Vice Chairman of the British Chamber of Commerce in China, recently stated in an interview with Xinhua News Agency in Beijing that multiple recent Chinese economic data shows that since the beginning of this year, with the Chinese government's intensive implementation of a series of policy measures playing a positive role, the momentum of China's economic recovery has become more apparent.
The data recently released by the National Bureau of Statistics of China shows that in August, the Purchasing Managers' Index of China's manufacturing industry was 49.7%, an increase of 0.4 percentage points from the previous month; The non manufacturing business activity index continues to be in the expansion range, while the comprehensive PMI output index has rebounded, and the overall level of economic prosperity remains stable.
According to statistics from the People's Bank of China, China's RMB loans increased by 1.36 trillion yuan in August, an increase of 86.8 billion yuan year-on-year. The increase in social financing scale for the month was 3.12 trillion yuan, an increase of 631.6 billion yuan compared to the same period last year; The cumulative increase in social financing scale in the first 8 months was 25.21 trillion yuan, 842 billion yuan more than the same period last year.
Tao Kerui told reporters that various positive data reflect that the Chinese economy is revitalizing, highlighting that the efforts of the Chinese government to promote economic growth are undoubtedly positive.
In a recent interview with Bloomberg, Tao Kerui stated that there is no "systemic crisis" in the Chinese economy as some people call it. "On the contrary, the Chinese economy is developing in the right direction.".
Tao Kerui has been living and working in China for a long time, often visiting cities such as Beijing, Shanghai, Shenzhen, and Guangzhou. He said that the Chinese economy is continuing to recover, especially with steady growth in consumer spending, and market confidence is being consolidated.
Currently, some countries are promoting protectionism and unilateralism in global trade. Tao Kerui stated that countries, including the United States and the United Kingdom, have benefited from the process of economic globalization. Attempts to reverse or counter globalization are unlikely to have a successful impact on the world economy.
Tao Kerui firmly believes that the Chinese market has enormous potential, significant supply chain advantages, and a firm pace of promoting high-level opening-up to the outside world. It is an indispensable component of economic globalization, and decoupling from China is not feasible.
As a chamber of commerce mainly composed of large multinational corporations in the UK, the China UK Chamber of Commerce has long been committed to promoting economic and trade development between China and the UK. Tao Kerui specifically mentioned that the State Council of China recently issued the "Opinions on Further Optimizing the Foreign Investment Environment and Increasing the Attraction of Foreign Investment", proposing 24 policy measures that are "particularly popular" among member enterprises of the Chamber of Commerce, further strengthening the confidence of foreign investors in the Chinese market. "These measures are practical and are what our member companies truly need."
The 2023 China International Fair for Trade in Services concluded on the 6th in Beijing. As the guest of honor of this year's Service Trade Fair, the UK has formed the largest exhibition group since the exhibition, focusing on showcasing brand products in creative, sports, education, technology and other fields.
"The UK is very honored to participate as a guest of honor in the 2023 Service Trade Fair." Tao Kerui said that the UK has a significant advantage in the service industry, and the Service Trade Fair is crucial for the UK to promote economic and trade relations with China.
Tao Kerui first came to China in 1984 and studied at Fudan University in Shanghai, witnessing the development of China's reform and opening up for decades. Looking back on his experience, Tao Kerui sighed, "China is constantly developing, and no country in the world has gone through such extensive economic reforms and achieved such success like China."
