China leads global economic development and pandemic control-Xinhua
A police officer from the Immigration Inspection Checkpoint checks a truck at Dongxing Port in Dongxing, southern China’s Guangxi Zhuang Autonomous Region, January 8, 2022 (Xinhua / Cao Yiming )
BEIJING, Jan.9 (Xinhua) – China reached a milestone in 2021 with major achievements in foreign trade, technological breakthroughs and industrial chain resilience, according to a senior official.
“China has taken a leading position in both economic development and pandemic control around the world in 2021,” Han Wenxiu, an official with the Central Committee for Financial and Economic Affairs, said in a recent article, highlighting the country’s progress in coordinating pandemic control and economic development. development.
According to World Bank projections, China’s real gross domestic product (GDP) growth will reach 8% in 2021, and its “momentum is expected to accelerate, aided by a more favorable fiscal policy.”
Experts also predicted that China’s per capita GDP would exceed US $ 12,000, close to the measure of a high-income country according to the World Bank’s classification.
RESILIENCE AGAINST PEAK WINDS
The world’s second-largest economy has experienced an impressive rebound from the pandemic-induced slump. The growth rate of the main economic indicators has remained within a reasonable range over the past year, with the growth of the consumer price index and the urban unemployment rate studied being at relatively low levels, and more 12 million new urban jobs were created.
Han pointed out that China’s foreign trade has accelerated sharply over the past year, as the world’s largest exporter posted a record share of world trade, underscoring the strong resilience of the country’s economy.
The latest data from the Ministry of Commerce showed that China’s total merchandise imports and exports are expected to reach US $ 6 trillion in 2021, with annual growth of around US $ 1.3 trillion.
As a pillar of the global supply chain, China-Europe freight trains have become another strong point given their crucial role in improving global supply chains, stabilizing consumer prices and helping countries fight COVID-19 epidemics.
China’s strict pandemic control measures have also laid a solid foundation for protecting people’s lives while ensuring the normal functioning of economic activities. By severely limiting imported cases and preventing any resurgence of local cases, China has succeeded in controlling the pandemic, according to Han.
Thanks to efforts to promote widespread immunization, nearly 2.89 billion doses of the COVID-19 vaccine have been administered on the Chinese mainland and more than 1.21 billion people were fully immunized on Friday, according to the reports. data from the country’s health authority.
RECOVERY IN UNCERTAINTY
However, in a volatile domestic and international environment, the Chinese economy still faces uncertainties such as weakening investments, slowing consumption growth, supply chain congestion and shortage of factors. key production.
During the turmoil of 2021, the country’s economy suffered from a decline in auto production caused by semiconductor shortages, increasing cost pressures from small businesses, lower expectations and hidden risks in the market. financial sector, Han said.
“We must face the difficulties while remaining confident,” Han said, noting that the Chinese economy should take full advantage of its characteristics of strong resilience, enormous potential and favorable conditions for economic growth to overcome the obstacles. .
Han urged governments to actively introduce policies conducive to economic stability and to remain cautious of policies that have a contraction effect.
Stability will be a top priority for the Chinese economy in 2022. At the central economic labor conference that set the tone last month, Chinese leaders have repeatedly stressed that “stability” is the top policy priority. economy of the country.
“China’s sustained economic recovery remains unchanged and fundamentals will remain strong in the long run,” Han said. “China is quite capable of maintaining stable, strong and sustained economic development.” ■