January 19th – According to the data released by the National Bureau of Statistics of China, China’s gross domestic product (GDP) exceeded the 100 trillion yuan mark for the first time in 2020.
At comparable prices, it increased by 2.3% over the previous year. Overseas observers and media pointed out that under the haze of the coronavirus epidemic, China took the lead in achieving economic recovery and handed over a dazzling report card, which brought significant benefits and confidence to the global economic recovery.
China’s hard-won Chinese economy leaps again
In the view of overseas observers, thanks to successful prevention and control and accurate policy implementation, it is not easy for China to hand over this report card.
In the face of the severe and complex domestic and foreign environment, especially the severe impact of the COVID-19 epidemic, China has coordinated the prevention and control of the epidemic and economic and social development, and the main goals and tasks of economic and social development have been completed better than expected.
The mainstream Australian media Australian newspaper said that China’s economic growth highlights China’s success in controlling the epidemic.
Quan Bingrui, director of the Korea Institute of China’s Economic and Finance, said that the right direction and timing of the Chinese government’s economic regulation are the key to positive China’s economic growth.
“The economic growth rate of 2.3% in the year of the pandemic is a very good achievement.” Kiyoshichi, research director of the Canon Institute for Global Strategic Studies in Japan, said that this achievement was firstly because the Chinese government took decisive measures to contain the epidemic in a timely manner.
Secondly, the Chinese government took a series of fiscal and financial measures to help all enterprises, including foreign enterprises, quickly resume production and help vulnerable groups. Get through the difficulties.
The report card handed over by China is rich in gold.
China’s GDP exceeded 100 trillion yuan in 2020, marking a new level of China’s economic strength and comprehensive national strength.
At the same time, China resolutely implements the new development concept and promotes high-quality development. The quality and efficiency of economic growth have steadily improved, and the first driving force for innovation continues to strengthen.
“China has achieved remarkable results in both the fight against the coronavirus and to restore the economy in 2020, showing strong resilience in the face of the crisis,” said Gao Le, president and CEO of the German BMW Group Greater China.
The super resilience of China’s economy, the trend of consumption upgrading, and China’s innovation in the field of electrification and digitalization make us confident in the medium- and long-term development of the Chinese market.
Mao Xuxin, chief economist of the National Institute of Economics and Social Research, believes that from the second quarter of 2020, the main driving force of China’s economic recovery comes from three aspects: first, the growth of industrial production; second, the strong global demand for medical and electronic products, which drives the sustained growth of Chinese exports; third, the recovery of business confidence and the promotion of industry.
Industry and services have further grown.
Bring confidence and momentum of the global economy
Overseas observers generally believe that the report card handed over by China has boosted global confidence.
Against the backdrop of the coronavirus pandemic hitting the global economy, China’s economy’s first recovery is particularly significant, which will gain new momentum as a result.
The Washington Post quoted Eswar Prasad, a trade policy professor at Cornell University in the United States, as saying that China has consolidated its position as an important engine of global economic growth with its outstanding performance.
The Australian Financial Review pointed out that China’s economy accelerated its growth in the fourth quarter of 2020, with a growth rate of 6.5%, laying the foundation for the economic recovery of the Asian region as a whole in 2021.
Gustavo Gilardo, a professor at Lanus State University in Argentina and an expert on China, said that China’s rapid recovery and positive results in 2020 are due to China’s good control of the epidemic, long-term planning for development and support for multilateralism.
The choice of openness and global cooperation for countries represented by China will help the global economy recover momentum and get out of difficulties.
Ronnie Lins, director of the Center for Research on China Studies and economist of Brazil, pointed out that China’s economic response will have a huge positive impact on the global economic recovery.
China’s insistence on reform and opening up is not only important for China itself, but also promotes international trade, promotes the interconnection of countries, and eventually produces a virtuous circle.
