Economic Daily Commentator: growth has slowed down does not change the general trend of development

Updated: October 20, 2015  Views: 43

National Bureau of Statistics data show that the first three quarters of the gross domestic product at constant prices, an increase of 6.9%. Single From the figures, it is the slowest since the second quarter of 2009, quarterly growth, but to put this number In the context of the global economy and the domestic double adjustment considerations, the slowdown did not change the fundamentals, there is no change in long-term development trend.

Under normal processing new downward pressure on the Chinese economy from all sides, it is an indisputable fact. From an international perspective, the world economy is still low growth, high debt and high unemployment are tired, recovery is less than expected. Sharp decline in global trade, to China's trade caused great pressure of negative growth, which is pulled down China's economic growth is mainly external factors. From a domestic perspective, the overall impact of the international economic weakening factors, domestic overcapacity contradiction, industrial producer prices and profits decline, leading to manufacturing business investment will lack investment growth continued to drop, constitute an important internal slowdown.

As the world's second largest economy, in many adverse factors, the overall economy remained stable, and has been in the range of reasonable range, in any case are regarded as an important achievement hard-won American << Times >> magazine website previously published such comments: 'China's economic growth is slowing, but the growth rate is still the envy of all the developed countries.' In the UN [microblogging] Trade and Development Conference in 2015 global economic growth of 2.5% as a reference, 6.9% growth is still very high, if the World Bank [microblogging] and the International Monetary Fund [microblogging] forecast for China's economic growth, the third quarter growth rate is also in line with expectations, and significantly higher than the global average. This indicates China's economic slowdown not only affect the development trend, the inherent growth momentum is robust.

Further analysis of the current slowdown is well received by the impact of unfavorable factors, there are also the transformation and upgrading needs. This year, some indicators did not change the economy to fluctuations in the good fundamentals, the trend of economic growth in the transition from investment-driven to consumption-driven even more obvious The new exhibit aggressive trend kinetic data show that the first three quarters, the contribution of final consumption expenditure GDP growth rate of 58.4 percent, 9.3 percentage point increase over the previous year, new formats booming new industry, the service sector growth speed is significantly faster than the second industry, has occupied half of the country's GDP, the proportion of tertiary industry 1.5 percent average annual growth, especially in the situation of economic slowdown, this year from January to September 1066 new jobs in cities and towns million, has been completed ahead of full-year targets, rural income growth continues to outperform the GDP growth in China's economic structure ...... These are gradually getting better, and labor productivity has improved steadily important characteristic landmark.

It should be noted that the current slowdown has not yet changed the development trend, but the trend for the next stage of the severe economic and complexity but still not be underestimated. To achieve annual economic growth target, to be good at capturing the opportunities in a complex contradiction to better adhere to market-oriented structural adjustment, reform and improve the old targeted kinetic energy, vigorously stimulate the 'double hit' comprehensively deepen reforms and the new release of kinetic energy, kinetic energy to achieve synergy of old and new together to promote economic growth. In the near term, in Consumption, investment and exports, 'Troika', we should face up to the traditional manufacturing investment underpowered reality, but also to see the field of high-tech and infrastructure investment continued heavy volume potential. In particular, in the central and western railways, highways, and large-scale water conservancy infrastructure continued to force, which is to transform and upgrade traditional kinetic energy, give full play to the synergy of the old and the new kinetic energy an important focal point. In the long run, we reason that the slowdown has not changed the fundamentals of China's economy, the main because the new town turned into China's sustained economic development gave birth to a strong momentum. seize the historic opportunity to promote human-centered new urbanization and agricultural modernization go hand in hand, China's economy will eventually get rid of converting the kinetic energy of the current stalemate, into line stability Zhiyuan a new realm. (Economic Daily commentator


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