Despite uncertainties and challenges at home and abroad, China's economy has maintained strong growth, in stark contrast to the situation in some other major economies, analysts said.
They dismissed speculation that China's economy would face bad weather in the coming months, saying that the economy will continue to recover this year and that consumption and investment are expected to improve, given the strong resilience and dynamism of the Chinese economy.
Looking ahead, they said that expanding demand and cultivating new drivers will be one of the priorities of this year's economic work.
Sheng Laiyun, deputy director of the National Bureau of Statistics, said: "China's economy grew by 52%, much higher than the 25%, 05% and 1 in Japan9%。”
China is expected to contribute more than 30 percent to global economic growth and remains the main engine driving global economic growth, he said in a statement released by the National Bureau of Statistics on Thursday.
Zhang Yuxian, director of the economic department of the State Information Center, said that he believes that China's economy will have a good start this year, and it is expected that the economy will grow steadily in the first quarter as the stimulus measures gradually take effect.
Although the overall economy is still facing challenges from insufficient demand and a complex external environment, he said: "Driven by strong policy support, industrial transformation and upgrading, and deepening reforms, the momentum of China's economic recovery is expected to be further consolidated in 2024." ”
Tian Xuan, deputy dean of the School of Finance of the People's Bank of China at Tsinghua University, said that the annual GDP target to be announced during the two sessions, as well as the country's final growth rate will be around 5%, indicate that this year's economic performance is better than in 2023.
Tian stressed that in the process of economic structural transformation, it is necessary to deal with the relationship between new kinetic energy and traditional kinetic energy, because the first economic work conference in December last year called for "building new first and then scrapping the old".
He said: It is necessary to intensify efforts to promote the upgrading of some traditional industries and cultivate new productive forces.
Ayhan Kose, Deputy Chief Economist and Principal Director of the World Bank, said that the challenge for China is to shift from investment- and export-led growth to consumption and services-led growth.
Kose said on Wednesday at the Global Outlook Conference at the International Financial Forum"Boosting consumer confidence in the short term and implementing the reforms needed to improve long-term growth prospects will be crucial. "
* The Economic Work Conference pointed out that efforts should be made to stimulate consumption, expand productive investment, and form a virtuous circle in which consumption and investment promote each other.
Ning Jizhe, deputy director of the China Center for International Economic Exchanges, said that the meeting planned the focus of this year's economic work, especially in promoting consumption.
Ning, deputy director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference, said that more efforts should be made to improve people's consumption capacity, optimize the consumption environment, and promote service consumption.
Gary Rosen, CEO of Accor Greater China, said the French hotel group is committed to the Chinese market, adding that China is expected to become the world's largest travel market by 2035.