The annual GDP exceeded the trillion-dollar mark to 10,1.6 trillion yuan, an increase of 2.3% over the previous year in comparable prices…
The 2020 economic report card released by Chinese officials on the 18th was evaluated by many foreign media as exceeding expectations.
Against the backdrop of the COVID-19 epidemic ravaging the world and the world economy falling into a serious recession, China’s economy has recovered steadily and is expected to become the only major economy in the world to achieve positive economic growth, which is really hard-won.
This is also of great significance to the whole world. Bloomberg said that China’s growth is helping the global economy recover.
Take the lead in controlling the epidemic, take the lead in resuming work and production, and take the lead in achieving positive economic growth – the three “firsts” China’s economy achieved in 2020 have impressed the world.
According to macro indicators, the economy recovered quarter by quarter after the decline in the first quarter, especially the fourth quarter, which increased by 6.5%, 0.7 percentage points higher than the same period last year.
In the whole year, 11.86 million new jobs were created in cities and towns across the country, exceeding the target tasks; the consumer price index of residents was lower than the expected target; the growth of residents’ income was basically synchronized with economic growth; foreign trade and foreign investment grew against the trend…
It can be seen that the main macro-control goals put forward in the work report of the Chinese government have been achieved, and are better than Expectation. In particular, China overcomes difficulties and challenges and historically eliminates absolute poverty, indicating that victory in building a moderately prosperous society in an all-round way is in sight.
It is worth mentioning that despite the impact of the epidemic, China’s new industries, new formats and new products are still developing rapidly. In 2020, the added value of China’s tertiary industry accounted for 54.5% of GDP, an increase of 0.2 percentage points over the previous year.
The growth rate of added value in the equipment manufacturing industry and high-tech manufacturing industry in the whole year was 3.8 percentage points higher than that of all industries above designated size, respectively, indicating that the industrial structure continues to be optimized.
At the same time, China’s investment in high-tech industries and social fields increased by more than 10% compared with the previous year, 7.7 and 9 percentage points faster than total investment, respectively, indicating that China’s demand restructuring has made new progress.
Earlier this month, the World Bank expected the global economy to shrink by 4.3% in 2020. In a downturn, how can China’s economy achieve positive growth of 2.3%? This cannot be separated from China’s market advantage and innovation momentum.
A global ultra-large-scale consumer market with a population of 1.4 billion has become China’s unique advantage against risk. In 2020, China’s online retail sales exceeded 11.76 trillion yuan, an increase of 10.9% over the previous year.
The rapidly developing digital economy strongly supported China’s consumption recovery.
At the same time, a series of policies accurately implemented by the Chinese government have played an important role in ensuring the employment of residents, ensuring the basic livelihood of the people, and the main body of the market.
For example, in 2020, China added more than 2.5 trillion yuan in tax and fee reductions, handling 29.2 billion yuan of deferred tax payment and 1.45 trillion yuan for export tax rebates for 3.99 million taxpayers, which effectively stimulated the vitality of market subjects.
In today’s economic globalization, no one can be alone in the face of risks and challenges. China is deeply aware of this and provides the world with a solution of “building a community of human destiny and achieving win-win sharing”.
In 2020, China’s total import and export of goods and the actual use of foreign capital both achieved positive growth, the total import and export of goods in the whole year increased by 1.9% compared with the previous year, and the actual use of foreign capital in China increased by 6.3% in the first November…
In order to meet the needs of the people of the world for epidemic prevention products and home office, China has stabilize global production. The supply chain of industry and the promotion of global economic recovery have played an important role.
More than that. In the past year, the construction of Hainan Free Trade Port has been accelerated, the Regional Comprehensive Economic Partnership Agreement has been officially signed, and the China-EU Investment Agreement has been negotiated…
A China that constantly shifts to institutional openness is bringing greater opportunities to the world and injecting strong impetus into economic globalization.
In 2020, an extraordinary year, China’s economy has made extraordinary achievements and laid a solid foundation for building a new development pattern.
However, it should also be noted that there are still many uncertainties about the current epidemic changes and the external environment, and the foundation for China’s economic recovery is not solid.
To this end, China will strive to maintain a reasonable range of economic operation, ensure that the 14th Five-Year Plan is well started and good, and create more win-win space for the world.
As Mexican expert on China, de la Rosa, said, “As an important engine of world economic growth, China will continue to contribute to the recovery of the world economy.”