Home Business hotly discussing that the steady operation of China’s economy will help the world economy recover.
hotly discussing that the steady operation of China's economy will help the world economy recover.

hotly discussing that the steady operation of China’s economy will help the world economy recover.

by YCPress

Beijing, December 20th – The Central Economic Work Conference was held in Beijing from December 16 to 18, which sent a clear and clear signal of China’s economic development.

Othercountries people believe that the meeting is of great significance to China’s economic development as it points out the direction of next year’s economic work.

Against the backdrop of the deep recession of the global economy due to the impact of the coronavirus epidemic, the steady operation of China’s economy will help the world economic recovery.

Under the severe and complex international situation and the severe impact of the COVID-19 epidemic, China has overcame the obstacles and become the only major economy in the world to achieve positive economic growth this year.

In this regard, Fu Xiaolan, director of the Technology and Management Development Research Center of Oxford University, believes that this is “decisive and critical to the sustainable development of China’s economy”.

William Jones, an expert on international issues in the United States and the Washington bureau chief of Global Strategic Information magazine, said in a written interview that China’s ability to withstand the epidemic is based on the rapid improvement of China’s economic level.

While taking precautions to avoid a recurrence of the epidemic, China is seizing the opportunity to help the economy return to sustainable growth.

The Central Economic Work Conference has identified the key tasks to be done next year. In this regard, Fu Xiaolan believes that many of the key tasks are related to promoting high-quality development, supporting the construction of scientific and technological innovation centers, consolidating the security and stability of the supply chain of the industrial chain and strengthening the support of the domestic market for economic growth.

These are all centered around a central goal, with high synergy and mutual support, and are very correct and scientific decisions.”

Jones believes that insisting on accelerating scientific and technological innovation and developing a stable industrial chain supply chain is the top priority of China’s next step in China’s economic development, because the key to economic growth is technological progress, and the development of new technologies can ensure sustained economic growth.

The self-driving bus line 1 vehicle in Zhengdong New District, Zhengzhou City, Henan Province is driving on the road of trial operation (photographed on August 18, drone photo). ( Photo by Ang Lee, Xinhua News Agency)

Ding Ke, a researcher at the Japan Institute of Asian Economics, believes that the meeting proposed to adhere to expanding domestic demand, pay attention to demand-side management, optimize the income distribution structure, and expand the middle-income group, which are very critical for China to form a strong domestic market and achieve high-quality development.

Yu Hong, a senior researcher at the Institute of East Asian Studies of the National University of Singapore, said in a telephone interview with Xinhua News Agency that while building a new development pattern and insisting on expanding domestic demand, China comprehensively promotes reform and opening up.

By creating a better business and investment environment and attracting more foreign investors, it will not only contribute to China’s economic development, but also contribute to the world economic recovery.

Next year will be of special importance in the process of China’s modernization drive.

Liang Guoyong, a senior economist at UNCTAD, believes that the Central Economic Work Conference has set the tone and pointed out the direction of next year’s economic work, which is of great significance to China’s economic development and world economic recovery.

Rice fields taken on October 18 in Jiangzhuang Village, Ancient City Street, Chenzhou City, Hebei Province (drone photo). ( Photo by Mou Yu, Xinhua News Agency)

The meeting pointed out that next year’s macro policies should maintain continuity, stability and sustainability.

We should continue to implement an active fiscal policy and a prudent monetary policy, maintain the necessary support for economic recovery, and operate policies more accurately and effectively, do not make sharp corners, and grasp the time and effectiveness of policies. Liang Guoyong believes that at present, such a policy orientation is very necessary to enhance confidence and promote economic recovery.

Mao Xuxin, chief economist of the National Institute of Economic and Social Research, believes that while maintaining a reasonable and moderate monetary policy and controlling the risk of financial debt, China’s adoption of active and targeted fiscal policies is conducive to promoting scientific and technological innovation, adjusting and improving income distribution and economic structure.” Such a relatively balanced monetary and fiscal policy not only helps to expand domestic demand, maintain economic security and healthy development, but also provides strong support for the autonomous and controllable and high-level opening of the supply chain to the outside world.

Johannes Pvlug, Commissioner for China Affairs of the Duisburg Municipal Government of Germany, said that from the signal sent by the Central Economic Work Conference, “China’s economy is expected to continue to play the role of a ‘lotive’ in 2021 to help the global economic recovery”.