Time flies, it is the end of November 2023 in the blink of an eye, and it will not be long before we will usher in a new 2024. Looking back on the whole of 2023, at the beginning of the year, many people placed expectations on the global recovery of our country's economy this year, but the actual situation is contrary to expectations.
On the one hand, the global economy has been sluggish, coupled with the continuous geopolitical conflicts between Russia and Ukraine, Palestine and Israel, etc., which have caused the global economy to continue to decline. At the same time, China's real estate industry is closely linked to economic growth, and it has also entered a downturn, resulting in many related industry practitioners losing jobs or changing careers.
However, as the end of 2023 is just around the corner, don't lose faith. Because the country is implementing a number of favorable policies, these policies will improve people's livelihood in many aspects, such as housing, promoting employment and income, and reducing people's economic pressure. Life will really get better!
The driving force behind the economic recovery
Recent data show that China's GDP growth rate in the first three quarters reached 52%, which is encouraging news. The economic upturn not only bodes well for the country's outlook, but also hints at more jobs and higher wages in the future.
According to economists, millions of jobs can be created for every percentage point of GDP gained. As the economy improves, the unemployment rate will be significantly lower and many unemployed will find jobs again. This will help reduce employment pressure and improve people's incomes.
In addition, as the economic performance of the company improves, employee salaries will also increase. The economic upturn will bring more development opportunities to enterprises, drive the growth of various industries, and improve employee salaries. For ordinary employees, the increase in income can not only improve the quality of life, but also enhance consumption power and further promote the national economy.
Lower interest rates on loans to reduce pressure on the population
One of the most striking recent positive policies has been the reduction in lending rates. Major banks have successively lowered deposit interest rates this year, and at the same time, they have also greatly reduced the interest rates on housing loans, car loans, and consumer loans. This initiative aims to reduce the repayment burden on borrowers and promote sustained growth in domestic consumption. During the pandemic, many people's incomes have been affected to a certain extent, and households that have taken out loans are burdened with heavy monthly repayment pressures. At the same time, people who have plans to buy a house or a car are also hesitant to move forward due to high interest rates. In order to alleviate this problem, major banks have aggressively lowered lending rates. Even households that have taken out loans have been opened to interest rate adjustments. This policy can reduce the pressure on families to repay their monthly loans, freeing up some of their money for other consumption. Reducing the pressure on loans encourages consumers to participate more actively in the market economy, further promoting the development of the domestic consumer market.
The trillion-dollar national debt continues to help with post-disaster reconstruction
In 2023, ** issued a special treasury bond of 1 trillion yuan to support flood relief and restoration of private water conservancy projects in various places. Since the beginning of this year, many places in China have suffered from floods, which have brought great challenges to disaster relief work and people's lives. The treasury bond funds will not only be used for post-disaster relief, but will also be used for the restoration of private water conservancy projects. Only when the private water conservancy facilities are perfect, can the agricultural development in the disaster area be guaranteed, and the farmers can have a stable income**. The implementation of this policy will greatly improve the living conditions of the people in the affected areas and lay a solid foundation for future development.
Finally
Looking ahead, we are confident that with the full implementation of these policies to benefit the people, Chinese society will enter a new era of more prosperous and harmonious development. The people's living standards will usher in a greater improvement, and the country's economic development will be more stable and sustainable. This is not only a recognition of the achievements of the past year, but also a confident outlook for the future. Let us unite as one and work together towards a more prosperous, stable and happy tomorrow. Economy