Beijing** Reporter Bai Bo.
2023 is a crucial year for China's post-pandemic recovery. After an unquiet 2023, China's economy is about to complete the growth target set at the beginning of the year as scheduled. With strong resilience and a steady stream of new momentum, China's economic ship continues to break the waves, once again proving that it is still the world's largest growth engine.
On August 30, the ship "Sinotrans Haikou" slowly left Qingdao Port in Shandong Province and sailed to Chennai Port in India.
On November 10, at the 6th CIIE, an exhibitor from Yemen (right) introduces special handicrafts to the audience. Xinhua News Agency.
On September 6, at the 2023 International Auto Show held in Munich, Germany, visitors were treated to the new energy vehicles of the **Chinese car brand BYD. Courtesy of Visual China.
Come out on top. Recently, the International Monetary Fund (IMF), the OECD and other international institutions have once again raised their expectations for China's economic growth in 2023, and the IMF has raised it sharply from 5% to 54%, and judged that China will contribute about 1 3 momentum to global economic growth in 2023.
This year's National People's Congress and the National People's Congress put forward an annual economic growth target of about 5%. In the face of a complex and severe international environment and arduous and arduous tasks of domestic reform, development and stability, China's economy grew by 5% year-on-year in the first three quarters2% of the transcripts.
Amid continued pressure, China's economy has embarked on a recovery curve. Especially in the field of foreign trade, the stabilization trend continued to consolidate under the condition of slowing global economic growth and shrinking external demand. The total value of imports and exports of goods in the first 11 months was 3796 trillion yuan, the total value of China's import and export of goods in the month of November was 37 trillion yuan, the monthly growth rate increased by 09% further increased to 12%, maintaining positive growth for two consecutive months.
Colin Bell, CEO of HSBC Europe, told this reporter that as the world's second largest economy, China's consumer market has continued to accelerate its recovery since the beginning of this year, despite facing many challenges. China also has a large number of outstanding enterprises that are critical to the future development of the industry. It is believed that China's economy will continue to maintain steady growth.
The ** Economic Work Conference held not long ago proposed that 2023 is a year of economic recovery after the three-year new crown epidemic prevention and control transition, and to do a good job in economic work in 2024, it is necessary to consolidate and enhance the economic recovery trend. Wang Yiming, vice chairman of the China Center for International Economic Exchanges, said that the positioning of the economic work conference for next year's economic work shows that China's economy has entered the track of trend recovery. In the internal and external environment where there are many unfavorable factors, China's economy has withstood external pressures and overcome internal difficulties this year, and on the whole has achieved the basic trend of relatively high growth rate, stable employment, low prices, and balance of payments. China's economic growth rate will be significantly higher than that of major economies this year, ranking among the top emerging markets, and China remains the largest engine of global economic growth.
Bullish on China. Is foreign capital "fleeing China"?This is a problem that some people often mention in recent years in the context of the global economic slowdown caused by factors such as the epidemic and geopolitical conflicts, and the adjustment of the industrial chain.
According to data released by the Ministry of Commerce on December 21, in the first 11 months of this year, China's actual use of foreign capital was 10,403300 million yuan, a year-on-year decrease of 10%, but 48,078 new foreign-funded enterprises were established, a year-on-year increase of 362%。In the field of manufacturing, the actual use of foreign capital in high-tech manufacturing increased by 18%；In the service sector, the actual use of foreign investment in R&D and design services increased by 91%。
The increase in the number of newly established foreign-funded enterprises and the decrease in the total amount are related to the increase in the financing cost of the international capital market after the Fed's continuous interest rate hikes. Large projects need financing, while small and medium-sized projects rely more on their own funds. Bai Ming, a member of the Academic Degrees Committee of the Research Institute of the Ministry of Commerce, told this reporter that the number of new foreign-funded enterprises in the first 11 months increased by more than one-third year-on-year, proving that the Chinese market is still attractive to foreign investment.
How do you view the Chinese market?Foreign capital is "voting with its feet". At the beginning of November, at the 6th China International Import Expo, which was fully resumed offline for the first time after the epidemic, 3,486 enterprises from 128 countries and regions participated in the enterprise exhibition, a record high, and the number of the world's top 500 and industry leading enterprises also exceeded the previous level.
According to the "Survey Report on China's Foreign Business Environment for the Third Quarter of 2023" released by the China Council for the Promotion of International Trade at the end of October this year, more than eighty percent of the surveyed foreign-funded enterprises are satisfied with China's business environment. Seventy percent of the surveyed foreign-funded enterprises in China's industrial chain layout tended to "remain stable", an increase of 4 percent from the second quarter57 percentage points. Eighty percent of the surveyed foreign-funded enterprises expect their profits to be flat or improve this year, and nearly nine out of ten expect their profits to be flat or improve in the next five years. From the perspective of development opportunities, for three consecutive quarters, foreign enterprises believe that "technological innovation and R&D" is the biggest development opportunity in the Chinese market.
Innovative development. At the end of November, a report from a German research institute attracted widespread attention in China. According to the report, Chinese manufacturers sold a total of 3.4 million vehicles abroad from January to September, outexporting more than the traditional two largest car manufacturers, Japan and Germany. Report** China became the world's largest exporter of automobiles this year.
Of the 3.4 million vehicles exported by China in the first nine months, electric vehicles accounted for 24%, more than double the number in 2022. Chinese brands accounted for 8% of the EU EV market in 2022 and is expected to increase to 15% in 2025. Wang Xia, president of the automotive industry branch of the China Council for the Promotion of International Trade, said that the growing popularity of Chinese cars in overseas markets is due to the comparative advantages in electrification and intelligence.
The new round of scientific and technological revolution and the rapid advancement of industrial transformation is a basic vein of the global development pattern, which is reshaping the growth and decline of national competitiveness and the global competition pattern, and is also changing the relationship between China and the world. In this scientific and technological revolution, China has entered a relatively cutting-edge zone as never before. Wang Yiming said that the key to promoting high-quality development lies in scientific and technological innovation, and new energy vehicles are a good case of high-quality development industry. China's new energy vehicles not only have strong growth in production, sales and exports, but also have a leading position in the first chain technology. On the other hand, traditional Western car companies are reluctant to throw away the traditional burden, and it is difficult to let go.
The rapid development of scientific and technological innovation capabilities in recent years has provided a steady stream of new momentum for promoting the high-quality development of China's economy. In the World Intellectual Property Organization's (WIPO) Global Innovation Index 2023 released in September this year, China ranked 12th and is the only middle-income economy in the top 30, ahead of France and Japan.
Because of the optimism about the rapid development of China's new energy vehicle industry, Zeiss, a well-known multinational company, has set up its global new energy vehicle operation headquarters in Shanghai. Forster, President and CEO of Zeiss Greater China, told this reporter that R&D and innovation capabilities are one of the important reasons to attract Zeiss to take root in the Chinese market. ZEISS will also continue to increase investment in China, expand R&D and innovation capabilities, and explore the path of high-quality development of local development and scientific research in China.
Said the witnesses. Sending a Friend Two Dolls has made a brand.
I just bought two dolls to give to my friends, but it made a brand. Talking about her entrepreneurial story, Ma Yuxia, a girl from Henan, said with deep feelings: "Facts have proved that it is absolutely right to follow the national policy. ”
When Peruvian craftsman Mamani and his wife Gloria made alpaca dolls on the spot, the crowd of onlookers and photographers came in waves, and orders also poured in, "increasing exponentially".
Bringing an alpaca doll to China was purely "accidental". After graduating from university, Ma Yuxia worked in South America for seven or eight years, often went to Peru, liked Peruvian alpaca products very much, and always wanted to sell them to China. In 2016, she went to Peru to inspect alpaca clothing, but she could not negotiate because the style and ** were not suitable. When wandering on the street before returning to China, Ma Yuxia was attracted by the alpaca dolls sold in a small workshop, so she bought two and brought them back to China to give to customers, but she didn't expect the customers to like them very much, and immediately ordered 1,000 of them.
This made Ma Yuxia difficult, China and Peru separated by 170,000 kilometers, she bought it at will, and did not leave the seller*** But she has liked to do business since she was a child, and she didn't want to give up this opportunity, so she dialed the girl Alejandra who she knew when she inspected the Peruvian garment factory. Alejandra helped find the doll's producers, Mamani and Gloria.
When I first met Uncle Mamani, his family lived in a house made of simple materials;In 2019, the dilapidated simple house was transformed into a brick house;When he went back in August this year, his family built a three-story building, which was beautifully decorated, and he bought a full set of household appliances, leather sofas, cars, and a workshop specializing in the production of alpaca dolls. Ma Yuxia said that after opening the Chinese market, the Mamani family's income has increased from $10,000 a year to $600,000 a year. In the past, for ordinary Peruvian people like Mamani, "China" was just a word, but after becoming rich from the Chinese market, Mamani and the people around him yearn for China very much.
In addition to the Mamani family, more than 400 people from more than 20 families have become craftsmen who specialize in making orders for China. "Their income was small and unstable before, but we give orders year after year, and the continuous and stable income has greatly improved their lives. Ma Yuxia introduced that "Warm Camel" currently has opened more than 30 stores in more than 20 cities in China, with sales 20 times that of 2018, and imports more than 100,000 alpaca products from Peru every year, which is still in short supply.
The first phase of the landmark project of the Belt and Road Initiative in Latin America, Peru Chancay Port is expected to be completed by the end of next year, when our products will only take 28 days from Peru to China by sea, which is more than half of the current 60 days, which can greatly save time and cost, which is the dividend brought to us by the national policy, I am lucky to catch up with the good times and good policies!Ma Yuxia named her brand Warmpaca, hoping that the product would not only bring warmth to consumers, but also bring more income to Peruvian artisans. "The time and place are favorable, and the Chinese market is so big, I believe that our business will become more and more prosperous!Reporter Jie Yazhen.
Point of view. Jeffrey Sachs, professor of economics at Columbia University:
China's economy has fundamental advantages.
The reason why I am full of confidence in China's economy is because it has fundamental advantages: a high national savings rate;High investments in infrastructure, education, R&D and business development;Exceptional education and world-class universities;Scientific research is progressing strongly;Cutting-edge business in the field of new technologies such as 5G, electric vehicles, synthetic fuels, etc.
Jim Rogers, founder and investor of Quantum:
I want to invest more in China.
The impact of the pandemic and real estate on China's economy is coming to an end, and prosperity is gradually returning. It is not the right policy for the United States to try to restrict China's economic and technological development with "small courtyards and high walls". The right policy is to open up more and more, more tourism, more investment. I am looking for new investment opportunities in China, and I want to invest more, not less, in China.
Pamela Cork-Hamilton, Executive Director, International ** Center:
China is a resilient market.
China has proven to be a resilient market amid global economic headwinds. According to our analysis, China imported $2$7 trillion in products, with an 8% increase in the value of imports over the past five years, are positive signs. Therefore, there are good reasons to be optimistic about China's responsible role in the world.
Director of the Thai-Chinese "Belt and Road" Research Center, Wiren Phichawonpadi:
China's innovation has given the world a huge impetus for development.
Since I came to China as an undergraduate, China has changed rapidly. Now China is the world's second largest economy, and China's manufacturing and innovation have brought huge development impetus to the world. China's well-established industrial system and hard-working and intelligent people will help China take advantage of the wave of new energy and artificial intelligence technology.