Xinhua News Agency: Continue to improve, "China's economic recession theory" can rest!

On October 19, Xinhua News Agency published an article entitled "Continue to improve, "China's economic recession theory can rest!" The article pointed out that the "report card" of China's economy in the first three quarters was released on the 18th, and the gross domestic product (GDP) increased by 5.2% year-on-year, from the perspective of industry, services, consumption, investment and other indicators, the economy showed a sustained recovery momentum.

After the data, JPMorgan Chase and Nomura raised their forecasts for China's economic growth this year. This fully shows that the international community deeply feels the sustained recovery and overall recovery of China's economy. Looking at the current domestic economic operation, positive factors have accumulated and laid a solid foundation for achieving the annual development goals.

The Financial Times reported that Goldman Sachs analysts quoted analysts as saying that recent data showed that China's economy "emerged more green shoots" in the fourth quarter. Bloomberg believes that from the momentum of the third quarter, the annual growth target of China's economy is within reach.

The facts are the best response to the deliberate creation of negative expectations for the Chinese economy. Over the past few months, the United States has stepped up its grip on China, erecting trade barriers through executive orders, exaggerating market risks and building walls for investment, trying to use the hand of power to keep companies away from China. Seeing that the suppression of China did not take much advantage, he launched a public opinion offensive, trying his best to clamor the "theory of China's economic collapse" in an attempt to create a crisis of confidence in China's economy.

Switzerland's "Neue Zurich Zeitung" recently published an article pointing out that the "theory of China's economic recession" has repeatedly appeared in international public opinion, but it has also been repeatedly falsified, and it is just a "strange and wishful thinking."

China's economic first three quarters "report card" released on the 18th, gross domestic product (GDP) increased by 5.2% year-on-year, from the industry, services, consumption, investment and other indicators, the economy showed a sustained recovery momentum. After the data, JPMorgan Chase and Nomura raised their forecasts for China's economic growth this year. This fully shows that the international community deeply feels the sustained recovery and overall recovery of China's economy.

Looking at the current domestic economic operation, positive factors have accumulated and laid a solid foundation for achieving the annual development goals. The Financial Times reported that Goldman Sachs analysts quoted analysts as saying that recent data showed that China's economy "emerged more green shoots" in the fourth quarter. Bloomberg believes that from the momentum of the third quarter, the annual growth target of China's economy is within reach.

The facts are the best response to the deliberate creation of negative expectations for the Chinese economy. Over the past few months, the United States has stepped up its grip on China, erecting trade barriers through executive orders, exaggerating market risks and building walls for investment, trying to use the hand of power to keep companies away from China. Seeing that the suppression of China did not take much advantage, he launched a public opinion offensive, trying his best to clamor the "theory of China's economic collapse" in an attempt to create a crisis of confidence in China's economy. In this regard, Luo Siyi, former director of the Economic and Commercial Policy Department of the City of London, pointed out in an interview with the media in September that the West's singing down on China's economy is aimed at deterring multinational companies to reduce investment in China, while hitting China's morale and delaying China's economic development. Switzerland's "Neue Zurich Zeitung" recently published an article pointing out that the "theory of China's economic recession" has repeatedly appeared in international public opinion, but it has also been repeatedly falsified, and it is just a "strange and wishful thinking."

It turns out that international companies' confidence in the Chinese market is far from being changed by a single decree from the U.S. government.

Recently, a number of foreign financial institutions have raised their forecasts for China's economic growth. Mu Tianhui, chief equity strategist at Goldman Sachs Asia Pacific, believes that a number of policy measures play a role, and China's economy will further improve in the fourth quarter. Foreign giants such as UBS and BlackRock have also voiced optimism about opportunities in the Chinese market. Many multinational companies have cast a "vote of confidence" in China's economy. German automaker Volkswagen announced in July that it would spend $700 million in Chinese electric vehicle maker Xpeng Motors. Commenting on investment, Volkswagen Group Chairman and CEO Berred pointed out that the momentum and speed of innovation in China is many times higher than that in Europe and the United States. This growth potential, this rate of innovation, is unmatched by any other market. Also deeply attracted to China is Budweiser Group, which has been deeply engaged in the Chinese market for nearly 40 years, and Deng Mingxiao, the group's global CEO said at an event in Shanghai recently that Budweiser focuses on the long-term development of its business, and the long-term development of China's economy is quite solid.

With a series of targeted and coordinated policy measures continue to exert force, the signs of China's economic recovery are becoming more and more obvious. During this year's Mid-Autumn Festival National Day holiday, more than 800 million people traveled and domestic tourism revenue exceeded 750 billion yuan, and many new scenes and new games emerged. The "Super Golden Week" with strong popularity, hot consumption and new business formats reflects the momentum of China's continuous improvement. The German "Frankfurter Allgemeine Zeitung" website reported that the main driving force of China's economic growth is changing, and consumption is expected to play a greater role in the future.

As the momentum of China's high-quality economic development continues to gather, the results are also constantly emerging. The just-concluded 2023 China Marine Equipment Expo attracted a total of 14 countries and regions from the United Kingdom, Italy, Germany, Denmark, France and other countries and regions around the world, and a number of "high-precision and cutting-edge" exhibits were unveiled, showing that China's continuous new breakthroughs in the field of marine equipment have been made. The scale of the just-opened Canton Fair reached a new high, and the "new three" products including electric manned vehicles, solar cells and lithium batteries were favored by buyers, and the scale of the new energy exhibition area increased by 172%. The international competitiveness of China's high-tech, high-value-added, green and low-carbon export products has been significantly enhanced.

A more open China is inspiring new opportunities. The third Belt and Road Forum for International Cooperation attracted representatives from 151 countries and 41 international organizations to attend the forum, with a total of more than 10,000 registrations, reflecting the great appeal and global influence of jointly building the "Belt and Road". The Belt and Road Initiative will build a bridge for interconnection and win-win cooperation between China and the world, and become a popular international public goods and international cooperation platform. As a landmark brand of jointly building the "Belt and Road", more than 10,000 China-Europe trains have been operated this year, effectively ensuring the stability of the international industrial chain and supply chain; The number of Fortune 500 and industry leading enterprises that have signed contracts to participate in the Expo has exceeded last year, and the exhibits are being transported to Shanghai from all over the world to the Expo.

At present, the global economy is facing increasing instability, and China has contributed valuable certainty. Steven Barnett, chief representative of the International Monetary Fund in China, pointed out a few days ago that China is still the largest engine of global economic growth, contributing one-third of global growth. Although China's economy is facing some challenges at present and for some time to come, the long-term good fundamentals will not change, and there is a solid foundation for long-term confidence in China's economy.

(Source: Xinhua News Agency)