Cheng Shi: The economic data in the third quarter boosted confidence in investing in China

　China-Singapore Jingwei October 18 Title: "Cheng Shi: Third Quarter Economic Data Boosts Investment Confidence in China"

　　Author Cheng Shi (Cheng Shi, Chief Economist of ICBC International)

　　Macroeconomic changes, financial market ups and downs, trend grasping, rational expectations and prudent investment, all require a broader perspective and more professional judgment. On October 18, the National Bureau of Statistics released the core data of China's economy in the third quarter, we believe that from the horizontal and vertical perspectives, from the static and dynamic dimensions of comprehensive research, China's economic growth rate has declined, but the fundamentals are still strong, showing the relative strength of the world, the economic structural transformation is on the way, China's economy is stable and far ahead of the future can be expected.

　　On the one hand, from a global perspective, since the second half of the year, the global economy has been mired in the quagmire of new supply impact, the risk of global economic "stagflation" has fully emerged, and the downward pressure on the economy and the upward pressure on inflation have been simultaneously amplified, so in this context, the high resilience of China's economy has been further highlighted, deceleration does not stall, and has always played a key role in the global economic recovery and global supply chain operation; from a historical perspective, China's economy is at an important point of time from the era of high growth to high-quality development. The real economy decelerates and increases quality, the industry structure is deeply adjusted, the transformation of growth momentum between new and old is in the process, and the detailed data of the third quarter also shows that although this process has brought some short-term pains, it also shows the positive role of activating economic potential and improving total factor productivity.

　　Looking forward to the future, in the unprecedented major changes in a century, the trend direction of China's economic stability and long-term development has become clearer, which has also laid a material foundation for global capital to continue to buy China. The financial market has always been the vane of the survival of the fittest in the global economy, and the quality of economic growth has always been a barometer of the capital market, so we believe that the high-quality development of China's economy will continue to boost the confidence of investing in China. It is worth noting that on October 19, china's Ministry of Finance will issue US dollar sovereign bonds in Hong Kong, and we believe that based on the relative strength of the Chinese economy in the third quarter, this US dollar sovereign bond issuance will also become another confidence vote of global investors on the Chinese economy.

Cheng Shi

　　(Zhongxin Jingwei APP)

　　(The views in this article are for reference only and do not constitute investment advice, investment is risky, and you need to be cautious when entering the market.) )

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