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Faced with downward pressure, what is the economic situation in China?

Faced with downward pressure, what is the economic situation in China?
2018-12-24 20:29:48 Source: Xinhuanet

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Xinhua News Agency, Beijing, December 24th Question: Faced with downward pressure, how does China's economic situation look?

Xinhua News Agency reporter An Zhen

The Central Economic Work Conference held recently pointed out that it is necessary to see that the economic operation is stable and volatile, the external environment is complicated and severe, and the economy is facing downward pressure. The meeting also stressed that China's development is still in the long-term and important strategic opportunity period.

In the face of the arduous and heavy domestic reform and development tasks and the complicated international situation, what is the trend of China's economy in 2019? Under the current situation, what new connotations are given to this important judgment of the important strategic opportunity period?

The decline in investment growth, the slowdown in consumption growth, the increase in external environmental uncertainty, and the deepening of structural reforms... The situation facing China’s economic development has become increasingly complicated and severe this year.

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From an international perspective, the world has faced a major change in the past 100 years. The various risks have combined to impact the steady growth of the world economy. The International Monetary Fund and other institutions have recently lowered their forecasts for world economic growth next year. From the domestic perspective, China's economy is shifting from a high-speed growth stage to a high-quality development stage. The long-term accumulation of contradictions is intertwined with new problems and new challenges, and the downward pressure on the economy has increased.

"It is necessary to understand the current situation from a long-term general trend. If it is only in the short term, it will be easy to be led by short-term indicator fluctuations," said Han Wenxiu, deputy director of the daily work of the Central Committee of Finance and Economics.

He pointed out that in today's world, peace and development are still the theme of the times; to solve the world's problems, it is necessary to strengthen international cooperation; the general trend of economic globalization will not be reversed; a new round of scientific and technological revolutions and industrial changes will flourish; as China expands and expands, All countries hope to find more development opportunities in China. These factors strongly support the Party Central Committee's judgment on the "critical strategic opportunity period."

The relevant person in charge of the National Development and Reform Commission pointed out that the current situation is the result of long-term and short-term, internal and external factors. We must keep a clear mind, insist on starting from reality, and dialectically look at the changes in the situation. "China's development is still in an important strategic opportunity period that should be able to make a difference and be able to make a difference. It is fully qualified, capable and confident to achieve high-quality economic development."

From the perspective of market space, China has a large market with a population of more than 1.3 billion, and the middle-income group is expanding steadily. It is urgent to deepen the supply-side structural reforms to meet the emerging demand for large-scale consumption upgrading. The uneven development of urban and rural areas has considerable development space. Great development resilience, potential and room for maneuver.

From the perspective of development conditions, after the founding of New China, especially the 40 years of reform and opening up, China has accumulated a solid material foundation, possessing the most complete industrial system in the world, increasing scientific and technological innovation capabilities, abundant human resources and land resources, A higher level of total savings rate has solid support for economic development.

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From the perspective of institutional advantages, there is a centralized and unified leadership of the Party Central Committee, an institutional advantage of concentrating power to do major events, effective macro-control mechanisms and policy measures, and continuous deepening of reform and opening up are continuing to release development momentum.

In the midst of a change, the crisis will coexist with the same life, and the crisis will be a chance.

"The new opportunity is not an opportunity to drop the pie in the sky and push the boat, but the opportunity to go against the water and roll the rocks up the mountain." Han Wenxiu stressed that the time and the situation are on our side, but the connotation and conditions of the opportunity are also changing.

From the perspective of economic development, we must grasp and seize five new opportunities at present.

Grasping new opportunities for accelerating the optimization and upgrading of the economic structure, persisting in the supply-side structural reform as the main line, unswervingly, working hard to "consolidate, enhance, enhance, and smooth" the eight words, accelerate the transformation of industrial structure and the transformation of development mode. Quality development opens up new horizons.

Grasp the new opportunities to enhance the ability of scientific and technological innovation, promote independent innovation in an open environment, complement the development shortcomings such as core technologies, and firmly grasp the initiative of innovation and the initiative of development in their own hands.

Grasp the new opportunities for deepening reform and opening up, solve outstanding problems through deepening reforms, promote all-round opening up, change external pressures as internal motivation, and promote the formation of economic structures and institutional mechanisms that are more internationally competitive in the future.

Grasp the new opportunities for accelerating green development, take the path of ecological priority and green development, lead the global green development, and win more room for development.

Grasping the new opportunities for participating in the reform of the global economic governance system, China can play a bigger and more active role in the important period when the international economic order and rules are facing adjustment.

The development of the Chinese nation has always been achieved through hard work and climbing. It is necessary to dialectically look at the changes in the international environment and domestic conditions, enhance the sense of urgency, seize and use the important strategic opportunities of China's development, maintain strategic strength, unswervingly do well in their own affairs, dare to face difficulties, and be good at risk. For the machine, changing pressure is the driving force to accelerate the development of high-quality economy.

"Adhere to the reform method to correct the distortion of factor allocation, enhance the ability to cope with uncertainty, enhance the economic development resilience, and maintain the long-term positive fundamentals of China's economy," said Yang Weimin, deputy director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference.