The Chinese economy will pass through 2021 and start 2022. "While fully recognizing our achievements, we must recognize that China's economic development is facing the triple pressure of demand contraction, supply shock and weakening expectations." Looking ahead, the Central Economic Work Conference made important judgments.
The more risks and challenges we face, the more we must take a dialectical and long-term view of future development. Practice has repeatedly proved that China's economy is resilient and the fundamentals of its long-term positive development have not changed and will not change. This is where our strength and confidence lie, as well as our determination and confidence.
A steady word is a strong strength
At the Jinjiang Lili Toys Factory, machines are running at full speed, ready to produce orders for 2022.
"We are running out of hot items in our warehouses, and this year's exports of toys, Christmas items and so on have already arrived on the shelves of American supermarkets." "The epidemic has affected the global supply chain, and China's production capacity is stable," said Xu Binbin, general manager of the company. "The return of external orders and the branding of the company have bucked the trend and boosted the company's exports to over $10 million in 2021."
This is not only true of hundreds of millions of Chinese companies, but also the remarkable journey the Chinese economy has gone through.
From becoming the only major economy in the world with positive growth in 2020 to exceeding expectations in 2021, The Chinese economy has shown great resilience despite the pressure.
In the first three quarters of 2021, GDP grew by 9.8 percent year-on-year, and the annual growth is expected to exceed 8 percent. Major economic indicators from January to November, including consumer prices, job creation and balance of payments, all performed well. Such an optimal combination is impressive among major economies in the world.
But at the same time, we should also be aware that there are still many unstable and uncertain factors in the domestic and international environment next year, especially in the first half of next year, due to the impact of a high base, the Chinese economy needs to overcome obstacles to maintain stable performance.
The Central Economic Work Conference set the keynote of "stability", and next year's economic work must be stable and make progress while maintaining stability.
We will continue to implement a proactive fiscal policy and a prudent monetary policy. We will continue to ensure stability in the six areas, especially in ensuring employment, people's wellbeing and market entities. Fiscal and monetary policies should be coordinated... To ensure stability, the Central Economic Work Conference put forward a series of effective measures.
"We should not only face up to the difficulties, but also strengthen our confidence." Zhang Jungu, former deputy director of the Development Research Center of The State Council, said China still has the ability and conditions to keep the economy operating within a reasonable range, as it enjoys a sound supply system, a huge domestic market, abundant human capital, enhanced scientific and technological strength, an improved business environment and strong macro-control.
Reform and innovation add vitality
Do not need manual, a piece of equipment out of the silk line, the formation of a "vortex", a root yarn automatic birth. In order to cope with the impact of rising raw material prices and labor costs, Jingyi Group, a textile and garment enterprise in Suzhou, Jiangsu Province, has accelerated its transformation.
"By improving spinning speed and developing recycled fibers, the added value of products has increased significantly." Chen Lu, general manager of the group, said the group achieved sales of 1.645 billion yuan in the first three quarters, up 20.5 percent year-on-year.
Innovation is the key for enterprises to overcome difficulties and grow stronger. It is also the driving force for steady and sustainable economic development.
The Central Economic Work Conference clearly pointed out that no matter how the international situation may change, we must unswervingly do our own affairs well, constantly strengthen the economic foundation and enhance our capacity for scientific and technological innovation.
We will continue to promote development through innovation
In recent years, the CPC Central Committee has attached unprecedented importance to innovation, and the strength and effectiveness of policies in various aspects have also been unprecedented.
In 2021, China's ranking in the World Intellectual Property Organization's Global Innovation Index has risen to 12th, ranking firmly at the top of the world's middle-income economies. Major scientific and technological achievements such as the Tianwen I and manned spaceflight have attracted worldwide attention. Innovation played a leading role, and technology-intensive industries such as new-energy vehicles, industrial robots and integrated circuits and new products with high added value grew rapidly.
"The role of science and technology in economic development is becoming more and more obvious. Breakthroughs in a technology can often create a niche industry, invigorate a large industry, and stimulate a large amount of investment and consumer demand." "Said Han Wenxiu, deputy director of the Office of the Central Financial and Economic Commission.
From strengthening the dominant position of enterprise innovation to perfecting and optimizing the science and technology innovation ecology; From launching a batch of industrial foundation reconstruction projects, stimulating the emergence of a large number of "specialized and special new" enterprises, to speeding up digital transformation... The Central Economic Work Conference accelerated innovation in the layout and opened up new space for development.
"Infrastructure construction should be carried out appropriately ahead of time, and investment should be increased in areas such as pollution reduction and carbon reduction, new energy, new technologies and new industrial clusters to both expand short-term demand and boost long-term growth drivers." Han wenxiu said.
We will continue to promote development through reform
Enterprises are the main body of innovation. At present, some enterprises, especially micro, small and medium-sized enterprises, still face great difficulties. How can market entities with over 150 million households remain stable? Living well?
The greater the downward pressure on the economy, the greater the need for reform to drive growth.
We will implement new policies to cut taxes and fees, implement a three-year action plan for structural reform of science and technology, deepen reform in key areas, strengthen anti-monopoly and anti-unfair competition, and increase financing support for the real economy. The Central Economic Work Conference focused on the deployment of a series of "hard measures" by market players to help bail out enterprises, improve the environment for innovation, and stimulate market vitality and internal driving force for development.
Keep the green hills, you can win the future
"No matter what risks and challenges we face, as long as we maintain market players, we will maintain the foundation of economic development. As long as market players remain active, they have a steady stream of economic momentum." "Said Gao Peiyong, vice president of the Chinese Academy of Social Sciences.
Give full play to our strengths and tap our potential
In just two months, the movie "Jangjin Lake" led the global box office. More than 2,600 brands sold on Singles' Day in one hour, more than the whole day last year. The consumer market still shows great vitality and potential despite the continued disruption of consumer spending caused by sporadic outbreaks of the epidemic.
From January to November this year, China's retail sales of consumer goods totaled 39.9554 trillion yuan, up 13.7 percent year on year. With a population of more than 1.4 billion and a middle-income group of more than 400 million, China enjoys distinct advantages in its super-large market.
We will implement the guiding principles of the Central Economic Work Conference, formulate the outline of the strategy for expanding domestic demand, promote consumption of new-energy vehicles, and improve the quality and capacity of consumer services such as medical and health care, elderly care, cultural tourism, and sports. A series of solid measures in the future will further unleash the potential of consumption and strengthen the internal drivers of development.
To strengthen market advantages, we should not only expand the domestic market, but also open wider to the world. Against the background of profound and complex changes in the external environment, we should maintain sustainable and high-quality economic development while promoting a double cycle of greater openness at home and abroad.
China's performance increased 100 times in 24 years! In 2021, L 'Oreal China headquarters was upgraded to North Asia headquarters.
"China is already the world's largest market for seven L 'Oreal brands and is expected to become the group's largest market worldwide." L 'Oreal North Asia president and China CEO Fabry said.
From setting up factories in the past, to now setting up more and more R&D centers and global headquarters in China, more and more multinational companies are optimistic about China and accelerating investment in China. From January to November this year, China actually used 1042.2 billion yuan of foreign investment, up 15.9 percent year on year.
"This is a direct manifestation of China's attraction!" Eric Berglof, chief economist of aiib, said That China's strong and effective control of the epidemic has largely boosted the confidence of multinational enterprises to invest and cultivate in China.
A big market promotes greater opening-up, and greater opening-up contributes to a big market. According to the plan of the Central Economic Work Conference, we will "open wider to the outside world at a higher level" and "attract more investment from multinational companies, and accelerate the implementation of major foreign investment projects". Through further opening-up, China will strengthen the impetus for development and inject new vitality into world economic growth.
"China's economy is an ocean, not a pond." In the face of century-old changes and the pandemic, we firmly believe that China is forging ahead with The Times, that China is resilient and that China is moving forward.
