Not long ago, the 2023 annual report of China's economy was released: the annual gross domestic product (GDP) exceeded 126 trillion yuan, an increase of 5 over the previous year2%, which is higher than the global projected growth rate of about 3%.
The growth rate is among the highest among the world's major economies, and the increase should not be underestimated. At comparable prices, China's economic growth in 2023 will exceed 6 trillion yuan, which can exceed the total economic output of a medium-sized country in a year.
Many international economic organizations and ** have praised it. The Spanish newspaper Economist** said that "this 'Asian giant' is still growing at a rate of about 5% per year" and "China's economic growth rate is five times that of the eurozone". An international observer said, "China's economy is expected to contribute more than 30% to world economic growth, and China is still the largest engine of world economic growth." ”
In the praise, there are some strange theories with ulterior motives, saying that "China's economic growth rate is not as expected" and "China's development momentum is not strong". In fact, over the years, there have always been some people in the United States and the West who have worn "colored glasses" and made irresponsible remarks about China's economy.
Is China's economic momentum strong?
From the perspective of economic law, after the increase in economic aggregate and per capita income, the economic growth rate will gradually decline, which is a common phenomenon experienced by many developed economies. At present, China's economic growth rate has always been operating within a reasonable range.
From 2020 to 2022, China's economy withstood the impact of the epidemic, with an average annual GDP growth rate of 4.%.About 5%, higher than the global 20% average, showing strong resilience. In 2023, China's share of the global economy will remain around 18%, and its position as the world's second largest economy will continue to be solid.
Today, China's economy, which has passed through the haze of the epidemic, has made solid progress in high-quality development, and the long-term momentum of improvement has become more obvious
Look at consumption. The Spring Festival lantern festival, dragon dance performances, and temple fairs are crowded, and ice and snow tourism in Inner Mongolia, Liaoning, Jilin, Heilongjiang, Xinjiang and other places is extremely ......This Spring Festival holiday in the Year of the Dragon, domestic tourism outings 47.4 billion person-times, and the total number of cross-regional personnel flows in the whole society is 229.3 billion passengers.
Such a "mobile China" is full of vitality and consumption recovery.
Look at the industry. On January 1, the large cruise ship "Aida Modu" departed from Wusongkou, Shanghai, and started its first commercial voyage; On January 5, JAC's brand delivered the world's first mass-produced sodium battery model; On February 7, China's fifth Antarctic research station, Qinling Station, was officially opened for ......
In today's China, traditional industries are transforming and upgrading, emerging industries are booming, future industries are poised to take off, and new quality productivity is accelerating growth. According to a report by the World Intellectual Property Organization, China's ranking in the Global Innovation Index rose to 12th last year.
Such an "innovative China", Volkswagen, Airbus, Mercedes-Benz and other European companies have increased their investment in China, which strongly proves the huge "magnetic force" of the "China's economic innovation field".
Look at the trend. In the 10 years of the new era, China's economy has been moving forward. In 2014, 2016, 2017, 2018, 2020, 2021, and 2022, GDP crossed the 60 trillion yuan, 70 trillion yuan, 80 trillion yuan, 90 trillion yuan, 100 trillion yuan, 110 trillion yuan, and 120 trillion yuan mark, reaching new levels one after another.
Is China's economy stable?
Let's start with prices. In 2023, while some developed economies around the world are facing the problem of the highest inflation rate since 1982, China's economy will not only consolidate its growth, but also stabilize its momentum, with prices generally moderate**, and the quality of life of the people will rise steadily. Sadia Zahidi, Executive Director of the World Economic Forum, observed: "China is one of the very few large economies in the world that is not plagued by high inflation, and interest rates are currently low."
Look at security again. Last year, when many countries fell into a food crisis and energy crisis, China's grain output hit a record high, and the energy security was generally stable. In particular, the installed capacity of renewable energy power generation has historically exceeded that of thermal power, which not only reflects the new progress of the dual carbon transition, but also brings a new improvement in energy self-sufficiency.
There are also areas of risk management.
When a country's economy operates, it will always encounter "problems in progress and troubles in development." In recent years, in order to coordinate and resolve risks such as real estate, local debt, and small and medium-sized financial institutions, China has taken a series of effective measures. At present, China's first-class debt level is at the lower level of the middle reaches in the world, and the progress of guaranteed delivery of buildings is obvious, and more than 3 million sets of special loan projects for 3.5 million sets of guaranteed delivery buildings have been delivered, which has stabilized market expectations.
How can China's economy, which is full of power, strong vitality and stable chassis, with its "size" getting bigger and stronger, and its "muscles" getting stronger and stronger, be unstable? !
Facts have fully demonstrated, and will continue to prove, that all the noise cannot change the upward trend of China's economy, nor can it change the confidence of people of insight in China's economic development in the international community.
According to the latest survey by the German Chamber of Commerce in China, 91 percent of German companies plan to continue operating in China, and 54 percent plan to increase their investment in China in the next two years.
McKinsey China Chairman Ni Yili said that China's economy and companies have become more resilient and have developed contingency plans in the past two years, and China's economy "may have some surprises" in 2024.
Recently, from 2024 to 2025, China's economic growth rate will continue to be higher than the global growth rate, significantly higher than the growth rate of developed economies, and continue to rank among emerging economies and developing countries.
Reason is clear. Although there are some cyclical and structural challenges to China's economic growth, as long as the historical orientation, internal logic and objective laws of China's economic development are respected, it will be self-evident that China's economy has always been dynamic and resilient, and will continue to be a powerful engine for global economic growth.
*: People's client.
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