China’s Economic Direction in 2023

In the first half of 2023, facing the complex and severe international environment and the arduous and arduous domestic reform, development and stability tasks, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at the core, my country's market demand will gradually recover, production and supply will continue to increase, and employment prices will generally remain stable. , residents' income grew steadily, and the overall economic operation picked up. However, there are also problems such as insufficient domestic demand, operating difficulties for some enterprises, and many hidden risks in key areas. Obviously, economic phenomena are highly random, and economic laws can only be reflected and discovered in a long-term and multi-perspective comparison, and the same is true for analyzing the macroeconomic situation. Therefore, it is necessary to rationally understand China's macroeconomy under the long-term historical background and international comparative perspective.

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From the perspective of international comparison, my country's current economic growth rate is still one of the highest among the world's major economies. Against the backdrop of a complex and volatile international environment, high global inflation, and weakening economic growth momentum of major economies, it is not easy for my country to achieve an overall recovery in economic growth, which demonstrates its strong economic resilience. In the first quarter of 2023, my country's GDP will grow by 4.5% year-on-year, faster than the growth rate of major economies such as the United States (1.8%), the Eurozone (1.0%), Japan (1.9%), and South Korea (0.9%); in the second quarter, my country's GDP will grow by 6.3% year-on-year, while the United States is 2.56%, 0.6% in the euro zone and 0.9% in South Korea. my country's economic growth rate still maintains a leading position among major economies, and it has become an important engine and stabilizing force for world economic growth.

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In short, my country's complete industrial system has obvious advantages, the super-large-scale market has outstanding advantages, human resources and human resources have obvious advantages, the dividends of reform and opening up have continued to be released, and the fundamentals of China's economic stability and long-term improvement have not changed. It has not changed, and the characteristics of sufficient resilience, great potential and wide space have not changed. With the support of policies and measures that coordinate both domestic and international situations, development and security, China has the conditions and ability to achieve stable and healthy economic development. We must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, adhere to the general tone of the work of seeking progress while maintaining stability, fully, accurately and comprehensively implement the new development concept, accelerate the construction of a new development pattern, comprehensively deepen reform and opening up, and increase macro policy regulation We will focus on expanding domestic demand, boosting confidence, and preventing risks. We will continue to promote the continuous improvement of economic operation, the continuous enhancement of endogenous power, the continuous improvement of social expectations, and the continuous resolution of risks and hidden dangers, so as to effectively promote the effective improvement of the economy and the reasonable growth of the quantity.


Post time: Oct-12-2023