Although my country is currently facing the impact of the epidemic and external challenges, experts have pointed out that with the implementation of a series of government stimulus policies, my country’s economy will accelerate growth in the third and fourth. quarter and will maintain stable operation within a reasonable range.
An employee works on the production line of an elevator component manufacturer in Haian, Jiangsu Province. GU HUAXIA / TO CHINA DAILY
China is on track for a steady rebound in the third and fourth quarters as political stimulus takes effect and new COVID-19 outbreaks will be less disruptive to the supply chain, experts said.
Experts say that with stimulus policies going into effect, China’s economy will steadily recover in the third and fourth quarters, and the new round of the outbreak won’t have a very disruptive impact on the supply chain.
They expect strong fiscal easing, particularly in infrastructure spending, to support growth, better use of structural monetary instruments and more government measures to further stimulate consumption, which will help stimulate domestic demand and build a national market loud.
Experts predict strong fiscal easing, particularly in infrastructure investments, to support economic growth and the government will make better use of structural monetary policy tools and more measures to further stimulate consumption, which will help stimulate domestic demand and create a strong internal market.
Luo Zhiheng, chief economist at Yuekai Securities, predicted that growth would return to 5% in the third and fourth quarters of the year, making a V-shaped rebound for the full year.
Luo Zhiheng, chief economist at Yuekai Securities, expects the growth rate to return to 5% in the third and fourth quarters and the annual economic growth curve will show a “V” rebound.
To stabilize overall growth, Luo said it would be appropriate to allocate part of the 2023 quota for local government special bonds early in the fourth quarter and increase financial support for small and medium-sized businesses, technology innovation and green development.
Luo Zhiheng believes that, in order to maintain the overall stability of economic growth, part of the special debt share of local governments in 2023 should be issued early in the fourth quarter, and financial support for small and medium-sized enterprises, technological innovation and green development should be increased.
For the second half of 2022, a recent meeting of the Political Bureau of the Central Committee of the Communist Party of China urged efforts to keep the economy running within an appropriate range and to work towards the best possible outcome.
A meeting recently held by the Political Bureau of the CCP Central Committee proposed that efforts be made in the second half of 2022 to keep the economy running within reasonable limits and strive for the best results.
It was decided that the large economically developed provinces should play a leading role and the provinces that are able to commit themselves to achieving the goals set for economic and social development this year.
During the meeting it was decided that the main economic provinces should boldly take the lead and the qualified provinces should strive to achieve the expected goals of economic and social development.
Zhu Haibin, China’s chief economist at JPMorgan, said the central government made a “practical” choice to downplay the pre-set annual GDP growth target of about 5.5% in the face of the unexpected shocks of COVID-19 and to external challenges.
Zhu Haibin, chief economist at JPMorgan Chase China, said that, under the sudden impact of the epidemic and external challenges, it is a realistic choice for the central government to downplay the annual GDP growth target of around 5.5. %.
Zheng Houcheng, director of the Yingda Securities Research Institute, said the five coastal provincial regions in southeast China that account for over a third of the Chinese economy – Fujian, Guangdong, Jiangsu and Zhejiang and Shanghai – will play a key role in stabilization. general growth.
Zheng Houcheng, director of the Yingda Securities Research Institute, pointed out that the five provinces and cities along the southeastern coast – Fujian, Guangdong, Jiangsu, Zhejiang and Shanghai – which account for a third of the country’s economic volume, will play an important role in the stabilization of overall economic growth.
Local governments across China have recently accelerated measures to increase consumption, a major challenge for the national economy in the second half of the year, for example by encouraging the purchase of cars and issuing consumer coupons.
Governments across the country have also recently accelerated measures to stimulate consumption, such as encouraging the purchase of cars and issuing coupons to consumers. The recovery of the consumer market in the second half of the year is the main challenge facing my country’s economy.
Southwestern Yunnan Province has published a plan to increase consumption and stabilize growth from 2022 to 2024, calling for efforts to develop online and offline consumption and encourage the digital and smart transformation of traditional commercial enterprises and to transform Kunming into a hub of international consumption.
The Yunnan Provincial Government of China issued the “Yunnan Province Three-Year Action Plan to Promote Consistent Growth in Consumption (2022-2024)”, which requires efforts to develop online and offline consumption, encourage traditional enterprises to transform into digital and intelligent, and transform Kunming into an international consumer center.
The northern port city of Tianjin plans to unveil 20 measures to stimulate consumption, a recently published document reads, with a focus on encouraging the consumption of cars, housing, appliances and cultural tourism, as well as stimulating new types. of consumption.
Tianjin introduced 20 new measures to increase consumption, the main content of which is to encourage the consumption of cars, homes, appliances and cultural tourism, as well as cultivate new types of consumption.
Beijing, Shanghai and Shenzhen in Guangdong Province also unveiled a number of measures, such as organizing shopping events and distributing coupons and subsidies.
Beijing, Shanghai, Shenzhen and Guangdong have also introduced a number of measures, such as organizing shopping festivals, issuing consumer coupons and subsidies.
Ye Yindan, a researcher at the Bank of China Research Institute, said investment will also be a key driver for growth.
Ye Yindan, a researcher at the Bank of China Research Institute, pointed out that investments will also be the main driving force of economic growth.
To further stimulate consumption in the second half, Ye said the government should expand efforts to boost residents’ confidence and expectations by strengthening support for the unemployed and low-income groups.
Ye Yindan said that to further stimulate consumption in the second half of the year, the government will work to increase consumer confidence and expectations of residents by increasing support for the unemployed and low-income groups.
He proposed taking more measures, such as encouraging more promotions and sales during the holidays, offering subsidies to buyers of new energy vehicles and green appliances, and easing restrictions on resuming consumption of services amid the COVID-19 outbreaks.
He suggested more measures, such as encouraging more promotions during the holidays, providing subsidies to consumers who buy new energy vehicles and appliances, and relaxing rules that limit the recovery of consumption of services during the epidemic.
Looking ahead, Ye said the Chinese economy is likely to rebound quarter after quarter as the stimulus policy gradually takes effect and the country keeps economic performance stable within a reasonable range in the second half.
Looking ahead, Ye Yindan said that with the gradual effect of stimulus policies, the Chinese economy will recover quarter after quarter and my country will maintain stable economic operations within a reasonable range in the second half of the year.
English source: China Daily
Translator and editor: Dany
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