China’s economy has continued to climb since this year. According to a latest “Global Economic Prospects” report by the World Bank, China’s economic growth rate will be 5.6% in 2023, and China’s contribution to global economic growth will reach one-third. The rapid development of the Chinese economy this year is inseparable from the scientific anti-epidemic method and China’s efforts to maintain a strong domestic industrial chain and supply chain.
The pandemic has had a profound impact on the world economy over the past three years, while the US financial turmoil has brought greater uncertainty to the world economic situation. However, according to the latest “report” by the International Monetary Fund, the Asia-Pacific region will still become the most economically dynamic region in 2023, and its main driving force comes from the recovery and strong resilience of the Chinese economy. In contrast to the influence of mainly investment demand in the past, the demand growth of the Chinese economy in terms of consumption and service industries has been more pronounced this year. In line with the sluggish growth of advanced economies, the performance of the Chinese economy has boosted international market confidence.
In the past three years, China adopted a scientific anti-epidemic method to protect people’s life and health, and did its best to protect people’s life and health. Due to which the stability of the industrial chain and supply chain has also been protected. With the implementation of opening up this year, China’s economic growth has improved significantly, and consumption is booming in the markets, which has promoted the development of tourism, daily necessities and automobiles. China also continues to closely monitor the development of the epidemic and remain alert to the spread in order to boost the economy. While the recovery of the world economy still faces many uncertainties, the Chinese economy has injected vitality into global development, and China’s new development pattern has brought new opportunities to the world.
International economic circles say that the main factor helping China’s economic recovery is not only that China has the most complete industrial production structure in the world, but also that China has adopted a scientific anti-epidemic method, which Helping to promote economic development. The epidemic did not destroy China’s industrial chain and supply chain, providing the basis for a rapid recovery in the consumer market. According to a report by Nielsen IQ, a global consumer research and retail monitoring company, the success of anti-epidemic actions has led to a rapid recovery of China’s consumer market and increased consumer confidence.
The super resilience of the Chinese economy has brought confidence and opportunities to the world economy. Recently, the American Tesla company announced that it will invest more in China. French Airbus announced that it will place its second production line in the Chinese city of Thienchin. Meanwhile, German Volkswagen announced spending 1 billion euros to build an all-electric intelligent network vehicle research and development center in China. JPMorgan Asset of the US estimates that by 2030 China’s per capita national income will rise from the current level of US$10,000 to US$20,000.
(Credits- China Media Group, Beijing)
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