China's economy remains stable despite challenges

2019-07-23 11:56:52 zhongqi 11

According to data released by the National Bureau of Statistics on the 15th, China's economy maintained a growth rate of 6.3% in the first half of the year. Experts said that since this year, in the face of complex and severe domestic and foreign situations, China's economy has not been afraid of challenges, maintained its strength, and its economic fundamentals continue to show a steady and positive trend. Major economic indicators are in line with expectations, and the resilience of economic development and the ability to withstand risks are further enhanced. The figure of 6.3% shows that China's economic growth is still stable.

6.3% is a relatively stable speed.

In the first quarter of this year, China's economic growth was 6.4%, compared with 6.3% in the first half of this year, slowing slightly by 0.1 percentage points. Expert analysis, although the growth rate has fallen, but 6.3% is still within the expected range, there is no significant decline. Moreover, some major economic indicators, such as consumption, investment, foreign trade and other growth rates have also rebounded to varying degrees, so 6.3% is a relatively stable rate.

6.3% is a leading global speed

Secondly, it is a leading global speed. China's economy grew by 6.4% in the first quarter, the fastest in the world's major economies, and the 6.3% growth rate in the first half was still among the top. At the same time, it is a speed with high gold content. In the first half of the year, 7.37 million new jobs were created in cities and towns, and 67% of the target tasks for the whole year were fulfilled. In June, the unemployment rate in the national urban survey was 5.1%, which was stable at the level of about 5%. CPI rose by 2.2%, excluding the core CPI of food and energy, by 1.8%, continuing a mild upward trend. The per capita disposable income of residents in the country increased by 6.5% in real terms, 0.2 percentage points faster than the economic growth rate. The energy consumption of 10,000 yuan GDP fell by 2.7% year on year.

6.3% is a hard-won rate

Experts point out that 6.3% is still a hard-won rate. Since last year, world economic growth, including international trade expansion, has all slowed down. Some structural contradictions accumulated over a long period of time in China have been highlighted, and the economy is under downward pressure. Under such circumstances, China promotes reform and innovation at home, stimulates the vitality of market players and promotes economic stability and progress by better promoting innovation and macro-control, optimizing business environment, and large-scale tax and fee reduction.

6.3% is a speed with back-up support.

6.3% is still a speed with back-up support. In the first half of the year, 6.3% laid a good foundation for the realization of the target tasks for the whole year. Looking from the second half of the year, the external environment may still be more complex, there is downward pressure at home, but the fundamentals of the smooth operation of the economy will not change, and there is still much room for policy reserve and the growing domestic market. All these factors are conducive to the realization of the main objectives of economic and social development throughout the year.

Global Economic Prospect and China's Economic Prospect

The World Bank's Global Economic Outlook Report released in June lowered global economic growth expectations for this year and next, but kept China's economic growth expectations unchanged at 6.2% in 2019. In a report released in April by the International Monetary Fund, China's economic growth forecast for this year was raised to 6.3%, making China the only economy in the world that has been raised its growth forecast for this year.

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