Kunpeng Project
China's economy is off to a good start: strong financial data bodes well for the full year
With the release of financial data in January 2024, we have witnessed a historic moment: the scale of new RMB loans and social financing both hit a record high, which has undoubtedly injected strong positive energy into China's economy. This exciting news is not only the best proof of China's steady economic growth in the past year, but also a strong signal for China's economy to continue to improve in the future.
This series of dazzling data is not only a digital victory, but also an intuitive embodiment of the vitality of the real economy. Enterprises have made arrangements for investment and production ahead of schedule, and the scale of medium and long-term loans to households has hit a new high, all of which show that the confidence and expectations of market players are improving significantly. Behind this is the high level of financial support provided by the financial system for the real economy, which is a reflection of the solid financial support for the real economy on the balance sheet of banks.
In the face of the complex and volatile global economic situation, China's economy has shown strong resilience and vitality. From high-speed growth to high-quality development, China's economy is undergoing a qualitative transformation. The decline in M2 growth is not a bad thing, but an inevitable result of economic restructuring and quality improvement. It marks that China's economy is shifting from money-driven to innovation-driven, from short-term stimulus to long-term sustainable development.
Looking ahead, we have reason to be confident in China's economy. In 2024, China's economy is expected to move closer to its potential economic growth rate and achieve a significant rebound. This is not only the need for economic development, but also the yearning and pursuit of a better life for hundreds of millions of people. Let us go hand in hand to welcome a better tomorrow for China's economy!