Source: Xinhuanet
Beijing, 27 Oct (Xinhua) -- "Continuing to exert efforts in the posture of a runner" -- Overseas people are optimistic about China's economic growth prospects
Xinhua News Agency reporter
According to data released by China's National Bureau of Statistics a few days ago, China's economy recovered well in the third quarter, the main indicators returned to stability, remained in a reasonable range, and the accumulation of positive factors increased. Overseas observers believe that China's economy has shown resilience despite challenges, and the prospects for medium- and long-term growth are bright.
The economy is recovering at an accelerated pace
Data show that in the first three quarters of this year, China's gross domestic product (GDP) increased by 3% year-on-year, 0.5 percentage points faster than the first half of the year. Among them, GDP in the third quarter increased by 3.9% year-on-year, 3.5 percentage points faster than the second quarter.
José Ricardo dos Santos, CEO of the Brazilian Association of Elite Entrepreneurs in China, believes that this is a positive result of coordinating epidemic prevention and control and economic and social development, indicating that China's economic development is at a steady pace. China's adherence to the people-centered development ideology is the key to achieving steady economic growth.
Yan Li, director of the China Senior Management Education Department of Nanyang Business School of Nanyang Technological University in Singapore, believes that the "report card" of China's economy in the third quarter has many bright spots, showing that China's economy has great potential, a good trend, and sufficient room for growth in the future.
UBS Group released a research report on the 24th, saying that China's GDP growth rate in the third quarter exceeded market expectations, and the pulling effect of investment and retail was obvious. UBS economists said factors such as manufacturing resilience and a rebound in consumer spending will drive China's economy to continue to recover.
Liang Guoyong, senior economist of UNCTAD, believes that consumption and investment have played a positive role in economic growth, and China's economy is expected to continue to operate along the upward channel.
Data show that the added value of industries above designated size in September actually increased by 6.3% year-on-year, of which the automobile manufacturing industry data increased by nearly 24%. Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs, said in an interview with the media: "Industrial activity has been a source of economic growth recently. ”
Song Ligang, a professor at the Crawford School of Public Policy at the Australian National University, pointed out that at present, many countries are facing the challenges of weak economic growth and inflationary pressures, and China's economic performance has brought positive signals to the world.
Kisereva, an economist at the Royal Cambodian Academy of Sciences, said that the continuous recovery of China's economy is good news for China itself and the world, and will help accelerate the recovery of the world economy.
The policy of stabilizing the economy has been effective
The economic wounds caused by the new crown epidemic have not yet been repaired, inflationary pressures are more widespread and persistent than expected, and adverse factors such as the energy crisis and debt pressure continue to face downside risks. In this context, China has introduced a package of economic stabilization policies and measures and successive policies to promote economic stability and improvement.
Cai Weicai, senior vice president of Kasikornbank, said that China has adopted a series of policies that have helped ease the downward pressure and shift economic growth to a high-quality and more sustainable development model.
José Luis de la Cruz, director of the Mexican Institute of Industrial Development and Economic Growth, believes that many of China's economic policies have promoted the quality and efficiency of production.
Observers also gave positive comments on China's overall price stability. In the first three quarters, the national consumer price index (CPI) rose by 2% year-on-year. Wang Liming, dean of the Institute of Irish China Studies at University College Dublin, believes that this figure is much lower than that of major Western economies and other emerging economies, which is a favorable condition for China to expand effective demand. Yan Li also said that keeping the overall price level within a reasonable range is of great significance to stabilizing the economy, confidence, and development.
Vitor Gaspar, director of the Fiscal Affairs Department of the International Monetary Fund (IMF), pointed out that from a global perspective, the fight against inflation with prudent measures is a top priority. China's price level is relatively low overall, so China has not seen the tightening of fiscal policy in tandem with monetary policy seen elsewhere.
Stephen Perry, chairman of the British 48 Group Club, said that China's economy is coping with a difficult external environment, but China can cope with it through good planning and timely adjustment of policies, and economic governance is effective.
The market attractiveness is prominent
The slowdown in global growth comes at a time when some developing economies have limited policy space to address challenges, and advanced economies are at risk of recession amid interest rate hike cycles. In contrast, the Chinese market has become the focus of foreign investment.
Bloomberg reported that investors in advanced economies are looking for portfolios that can outperform inflation and avoid recession expectations, and emerging markets represented by China offer opportunities such as: faster growth expectations, more accommodative policies.
The Wall Street Journal reported that since the epidemic, China's actual use of foreign capital has maintained a high growth, mainly due to China's first control of the epidemic, the continuous recovery of the economy, and the government's measures to stabilize foreign investment.
Despite the challenging global situation, Audi's annual vehicle sales in China exceeded 700,000 units in 2020 and 2021. In June this year, Audi officially laid the foundation stone for the FAW New Energy Vehicle Project, Audi's first production base for pure electric vehicles in China. Jaczilyn Harvey, sales director of the Audi Group in China, said a few days ago that Audi regards China as the largest single market and is determined to further cultivate the local market.
Jantilk Aragoz, chairman of the board of directors of Turkey's Aragoz Holding Company, said that in the context of risks to the world economy, China promotes high-level opening up and optimizes the business environment, which is conducive to win-win results for all parties. The growth in the size of the Chinese market will benefit countries and companies that have established business partnerships with China and will benefit other countries.
According to the latest data from the General Administration of Customs of China, in the first three quarters of this year, the total value of import and export of mainland goods trade was 31.11 trillion yuan, a year-on-year increase of 9.9%.
Mr. To, Chairman of KPMG China and Asia Pacific, an internationally renowned accounting firm, was deeply moved by the report of the 20th National Congress of the Communist Party of China to accelerate the construction of a trade power, and believed that the continuous improvement of China's business environment, especially the business environment related to cross-border trade, has contributed to the growth of China's foreign trade. He said that from high-speed development to high-quality development, China has promoted high-level opening up to the outside world and is continuing to exert efforts as a runner, attracting global attention.