After withstanding the challenges and impacts of the COVID-19 pandemic, China’s economy is steadily recovering, with potential for further growth despite the ongoing global economic turmoil. Highlighting the ways in which the country’s economy has shown resilience and potential, a recent Political Bureau meeting emphasized that the post-epidemic economic recovery will be a process defined by its wave-like nature and tortuous progress, according to an article published in the “People’s Daily” on November 14, 2023.
The meeting specifically acknowledged the challenges brought about by the epidemic and the subsequent need for comprehensive economic recovery. Despite these challenges, the article points out that China’s economy has shown significant recovery and improvement since the beginning of the year. High-quality development, a firm manufacturing base, and growing market demand have contributed to the country’s economic momentum.
The article highlights several positive indicators of economic recovery, including the availability of domestic large aircraft, trial voyages of domestic cruise ships, and the successful sailing of “three new things” of foreign trade overseas. Additionally, the summer movie box office hit a record high, and holiday travel markets experienced significant growth. The article also notes that China’s economy has achieved an average annual growth rate of about 4.5%, outperforming many major economies worldwide.
While acknowledging the challenges and potential obstacles faced by the Chinese economy, the article emphasizes the country’s solid material foundation, a complete industrial system, and a broad market demand as key strengths. It also highlights the increasing innovation capabilities and competitiveness of Chinese enterprises, pointing to a promising outlook for industrial upgrading and economic development.
The article concludes with a note of optimism, stating that the Chinese economy is moving forward despite the storm and is poised for further growth and development. With pragmatic response measures currently being implemented and positive news in industrial fields, China’s economic performance is expected to continue its upward trajectory.
Overall, the “People’s Daily” article provides a comprehensive overview of China’s economic recovery and resilience, underscoring the country’s potential for stable and long-term economic development. As the global economy continues to navigate the challenges posed by the pandemic, China’s economy stands out as a beacon of hope and opportunity.