The United States and China are two of the largest in the worldEconomybody, for themThe rate of economic growthComparisons are often the subject of attention. Recently, the revised report released by the United States showed that the GDP growth rate of the United States in the third quarter of 2023 was revised upwards to 13%。At the same time, China's GDP growth rate in the third quarter was also 13%。This means that both countries in this quarterEconomyIs the growth rate equal?From a year-on-year perspective, China's third quarterThe rate of economic growthUp to 49%, up from 28%。However, fromMonth-on-month growth rateThe growth rates of the two countries are equal. This result is partly a reflection of ChinaEconomyThe recovery momentum is relatively weak. At the same time, AmericanEconomyThe development shows a relatively large degree of improvement.
United StatesEconomyThe upward revision is mainly attributable to the growth of private investment. In particular, the contribution of inventory investment is higher than in the preliminary statistics. In addition, the contribution rate of fiscal spending in the United States has also increasedSurplusContinue to narrow. All of these factors are driving the United StatesEconomyThe increase has exceeded market expectations. It should be noted that the result of this increase is not simply adjusting the statistical rules, raising prices and other factors, but in a series of factorsEconomyfactors to reach a conclusion.
ChineseEconomyThe core reason for the relatively weak recovery remains the lack of domestic demand. The sluggishness of household consumption and fixed asset investment has made ChinaEconomyIn this round of recovery, it appears to be weak. From January to September this year, the national industrial enterprises above designated size realizedProfitsThe total decreased by 9 percent year-on-year0%。National industryCapacity utilizationOnly 756%。In addition, the external factors brought about by the global economic and trade slowdown are also for ChinaEconomyGrowth has had an impact. The sharp depreciation of the renminbi exchange rate has also affected both China and the United StatesEconomyThe difference in scale has increased further.
As the impact of the new crown epidemic has not been completely eliminated, it is recommended that China** gradually adjust its fiscal policy. We should shift from emphasizing investment in the past to attaching equal importance to investment and consumption, so as to promote the growth of residents' income and consumption. It is possible to learn from other countries inEconomy** The strategy adopted at the time of the year, giving cash subsidies to specific groups to promote a rapid recovery in private consumption. In addition, we will promote the shift of fiscal policy from a quantitative and large-scale model to an efficiency-based one, so as to reduce the pressure on residents' lives and increase their income and consumption levels. Residents' income and consumption pairsEconomyDevelopment plays an important driving role. When people have money and have the confidence to spend, business orders increase, industrial capacity is increased, and enterprisesProfitsIt will also pick up. At the same time, increase pairsEconomyGrowth incentives to drive ChinaEconomyMove towards high-quality development.
The GDP growth rates of China and the United States in the third quarter were equal quarter-on-quarter, but from a year-on-year perspective, China'sThe rate of economic growthHigher. This result reflects ChinaEconomyThe recovery momentum is relatively weak, mainly due to the lack of domestic demand. In order to pushEconomydevelopment, China** can promote the growth of household consumption and fixed asset investment by adjusting fiscal policies. At the same time, it needs to be rightEconomyIncentives for growth have been strengthened to drive ChinaEconomyMove towards high-quality development. This can only be achieved by increasing residents' income and consumptionEconomyof sustainable development, letEconomyGrowth is both scale and quality.