Beijing time:2021-11-20 02:29
[NTD News November 20, 2021 Beijing time]Premier Li Keqiang of the State Council of the Communist Party of China recently stated to the business community that the current downward pressure on the Chinese economy is currently facing new downward pressures on the Chinese economy, so it is necessary to push the economy to “climb through the hurdles.”
The Chinese Communist Party’s official media reported that Li Keqiang hosted a symposium of economic situation experts and entrepreneurs in Beijing on November 19. Therefore, we must do a good job in cross-cycle adjustment, and promote the economy to “climb and overcome obstacles.”
He said that targeted measures will be taken to strengthen economic operation adjustment and ease the pressure on the transmission of bulk commodity prices to downstream small, medium and micro enterprises.
Li Keqiang also mentioned that support the development of new forms of foreign trade such as cross-border e-commerce and overseas warehouses; seize the opportunity of the effective implementation of RCEP to deepen and expand international cooperation; play the role of open platforms such as the pilot free trade zone to attract more foreign investment.
The companies attending this symposium include Datang Group, Wuxi Yimian Textile Group, Shenzhen Jingfeng Medical Technology, etc.
Prior to that on November 1, Li Keqiang stated at the “Working Forum on the Development and Growth of Market Entities” that the current economy is facing new downward pressure.
According to data released by the Statistics Bureau of the Communist Party of China, a year-on-year growth of 18.3% in the first quarter of this year, 7.9% in the second quarter, and 4.9% in the third quarter. Statistics show that China’s economic growth has experienced a cliff-like decline in the second quarter of this year.
Anbang think tank research report pointed out that the sluggish consumption is the biggest shortcoming of China’s economy in the past two years. The impact of the CCP virus epidemic, the deteriorating economic environment, increased employment pressure, and lower income growth expectations, many internal and external factors are still weakening China’s domestic consumption momentum. This situation may not substantially improve next year.
George Magnus, an economist at the China Center at Oxford University, said that the debt problems faced by the Chinese real estate industry could lead to a period of economic stagnation, affecting the domestic and global economy.
(Reported by reporter Liu Minghuan/Editor in charge: Wenhui)
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