Photo: Global Times
With China eyeing rapid economic growth next year, economists attending the 2023 Global Times Annual Meeting on Saturday said they had many plans to address key risks and spur an overall improvement in economic management. said the measures will be implemented after the central government sets the tone. economic conference.
Wei Jianguo, vice president of the China Center for International Economic Exchanges and former vice minister of commerce, said, “China’s economy will lead the world with an 8% growth rate next year, bringing confidence and hope to the world.” rice field. , held online and offline.
Wei said China’s strong production and supply chains have not only withstood the onslaught of the COVID-19 pandemic, but also repelled obstruction by the United States and some European countries seeking to divide China.
Moreover, the country still enjoys a huge market and strong consumption capacity, the expert added.
From Thursday to Friday, the Central Economic Work Conference, which often sets the direction of economic policy decisions for the coming year, took place in Beijing, promising growth, jobs, stabilizing prices and boosting domestic demand.
Officials at the meeting said recovery and expansion of consumption should be prioritized as an important part of stabilizing the economy, and expressed their support for consumption in housing, new energy vehicles and elderly care.
At the two-day meeting, officials noted the need to step up aggressive fiscal policy to maintain the necessary spending intensity.
“The digital economy, intelligent manufacturing, urban development and green economy will drive the formation of new consumption patterns, while new development patterns focusing on the internal market will form rapidly next year,” Wei said. added.
Yu Yongding, an economist at the Chinese Academy of Social Sciences, said at the Global Times annual conference that China’s GDP growth target could be set at 5% or more, possibly 6% or more, in 2023, and that the country will pursue it. He said expansionary fiscal policy would need to be adopted to achieve this. Goal.
“The focus of expansionary fiscal policy is still on infrastructure investment, and the financing structure in this area should be improved,” Yu said, adding that the region will take concrete steps to stimulate housing consumption. He added that he could
Jia Kang, former director of the Chinese Academy of Financial Sciences, said in a speech in the Global Times that China’s economic growth rate in 2022 will be about 3%, and that in 2023, the economic growth rate will reach 6%, possibly reaching 8%. I predicted that there would be annual meeting.
Jia stressed that China’s economic development should focus not only on efficiency but also on improving quality.
Yao Yang, dean of Peking University’s National School of Development, said China’s economy will achieve 6% growth at least next year.
Yao said the country’s economic growth is driven by capital accumulation and total factor productivity. According to his estimates, China’s current potential economic growth rate he is in the range of 4.7-6.3%.
Yao said China’s economy will grow by 3-3.5% in 2022. “With multiple policy easing to boost the economy, 6% growth could be achieved in 2023, but without excessive adjustments for potential inflation,” he said.
Regarding the country’s foreign trade, Wei said foreign trade will make a more important contribution next year [to the country’s overall economic development]Because high-quality opening up will bring a new leap to China’s business environment, and a more market-oriented and internationalized China’s capital market system will be formed next year.
“Next year, we will introduce more policies for private and foreign companies to create a more favorable business environment that reflects fairness, openness and justice,” Wei added.
Facing a tough foreign trade situation in 2023, China needs to stimulate domestic demand, accelerate the construction of a new development pattern with the domestic market as the main force, and the domestic and foreign markets to boost each other, Yu said. did.
