Development and Reform Commission: China's economy will not have a double bottom
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January 06 14:07:08, 2023
Li Pumin, deputy secretary-general and spokesperson of the National Development and Reform Commission, said on the 2nd that as long as the central government's decision-making arrangements are implemented and the policies and measures determined by the central government are implemented, the economic and social development will be maintained, and there will be no major ups and downs in economic growth. There will be no so-called "double dip". The GDP growth rate has fallen for five consecutive quarters, which is the main reason why some people are worried about the “double dipâ€. However, Li Pumin believes that the economic growth rate in the first half of the year is still in a stable and relatively fast range, and there has not been a sharp decline. It is a steady and moderate slowdown. This is the result of macroeconomic policies and active regulation, which is in line with the expected direction of macroeconomic regulation and control. And for some time to come, the potential growth rate of China’s economy is still at a relatively high level.†“It can be said that to maintain a stable and rapid economic development in the long run, we are qualified, capable and confident.†Li Pumin said that although China’s economy Development faces many challenges at home and abroad, but it also has many favorable conditions, such as industrialization, informationization, urbanization, marketization, internationalization and in-depth development, accelerated economic restructuring, huge market demand potential, and overall improvement in technology and education. The vitality of the system has been significantly enhanced. When talking about the macroeconomic policy orientation in the second half of the year, Li Pumin said that the continuity and stability of macroeconomic policies will be maintained in the second half of the year, and the policy orientation should reflect five more emphasis. The first one is more focused on price stability and real estate regulation. Li Pumin said that more attention should be paid to the targeted resolution of outstanding contradictions and problems in economic operations, especially to resolutely curb excessive price increases and keep the overall price level basically stable; adhere to the real estate control policy and unswervingly, curb housing prices too fast. It is necessary to improve the development environment of enterprises, especially small enterprises, and ease the operational difficulties of enterprises. The second is more focused on advancing structural adjustment. Li Pumin pointed out that it is necessary to consolidate the good momentum of agricultural development, fully seize the year-round agriculture, especially the grain harvest, promote the development of strategic emerging industries with the focus of independent innovation, promote the upgrading of traditional industrial structure, and support the accelerated development of the service industry, especially to effectively grasp We will save energy and reduce emissions, speed up the elimination of backward production capacity, and strictly control the blind expansion of the “two highs†and overcapacity industries. Safeguarding and improving people's livelihood is the third issue of macroeconomic policy. Li Pumin stressed that it is necessary to carry out large-scale construction of affordable housing to ensure the implementation of 10 million sets of construction plans this year; continue to improve the lives of urban and rural residents, especially low- and middle-income groups, and strengthen social security. The fourth issue that needs to be addressed is the steady and rapid growth of domestic demand. Li Pumin said that it is necessary to continue to improve policies to expand domestic demand, especially consumer demand, tap the consumption potential, optimize the consumption environment, and gradually improve the long-term mechanism to expand consumer demand, promote steady and rapid economic development, and prevent major ups and downs. The fifth is more focused on deepening reforms in key areas and key links and expanding opening up. This includes actively and steadily promoting the reform of resource product prices, deepening reforms in fiscal, taxation, finance, rural areas, and cultural systems, maintaining the basic stability of foreign trade policies and promoting steady growth in exports.