Let's talk about the two sessions in 2024
In my opinion, China's economy has been dragged down by the epidemic on the surface in recent years, but in fact, the real estate economy has soared and overdrawn the consumption power of the entire society. The people around me have bought all the houses they could have bought in the past few years, so naturally they will not buy any more houses in the near future.
All attempts to regulate real estate by financial means are almost all reversed by real estate, and the root cause is undoubtedly in land finance. Institutional change is difficult, so it may take some time to change.
I think we can be more optimistic in the medium term, because of our wealth management habits, and the high household savings rate of 45% is the basis for the strategy of Chinese society to cope with the global economic recession.
The IMF's growth forecast for China in 2024 is up from 42% to 46%, which seems a bit optimistic; Germany, France, Italy, and Spain are expected to grow at 2024 respectively. 5%, and outside the eurozone, Japan, the United Kingdom, and Canada respectively. 6% and 14%, the United States is 17％；India is 65％。
The global economy is weak, and China is not the only one that suffers.
At the moment, we need to shape good market expectations to boost market confidence, and this is achievable. China's domestic market capacity and social savings can fully support an independent internal circulation space, but the key is to let the Chinese people dare to take out their savings and circulate them, and the only thing that tempts them is to make them believe that when the money is spent, they will soon have the opportunity to earn it back, so that China can have a thriving situation.
Zhang Ruimin believes that the current dilemma of China's manufacturing industry lies in the lack of innovation ability and core competitiveness. In the past few decades, the development of China's manufacturing industry has mainly relied on low-cost advantages and scale expansion, but with the changes in the global economy and the domestic environment, this model has become unsustainable.
If manufacturing enterprises want to get out of the predicament, they must transform and upgrade. But transformation and upgrading is not an easy task. In the process of transformation and upgrading, many enterprises will encounter problems such as technical bottlenecks, talent shortages, and financial pressure. Therefore, experts suggest that we should increase support for scientific and technological innovation and talent training, and encourage enterprises to strengthen independent research and development and technological innovation; At the same time, enterprises should also actively expand financing channels to attract more social capital to invest in the development of the manufacturing industry.
In addition, environmental protection is also one of the challenges that the manufacturing industry must face. With the increasing awareness of global environmental protection and the continuous improvement of environmental protection regulations, enterprises must increase investment in environmental protection to promote green manufacturing and sustainable development.