With thousands of grinding and thousands of blows, it is still strong, and you can wind east, West, North and south. In the third quarter of this year, China's economy grew by 4.9% year-on-year, with an average growth of 4.9% in two years, and the growth rate fell somewhat. However, from the cumulative point of view, the first three quarters increased by 9.8% year-on-year, with an average growth of 5.2% in two years, which is still stable in a reasonable range. Globally, under the influence of the epidemic, China's economy has continued to recover steadily. The fundamentals of stability and long-term improvement have not changed. It is still a stable force leading the global economic recovery. Pressing ahead, China's economy shows resilience Since the second half of this year, the growth of some indicators of China's economy has slowed down, and there is no lack of concern from the outside world. Gao Ruidong, chief macro economist of Everbright Securities, said that in the third quarter of last year, China's epidemic situation was basically controlled and took the lead in restoring production and life. The economic growth rate rebounded to 4.9% year-on-year. The impact of the rising base is an important reason for the "high before low" year-on-year growth of China's economy since this year. "After entering the third quarter, risks and challenges at home and abroad have increased, the global epidemic has spread, the recovery momentum of the world economy has slowed down, international commodity prices are running at a high level, some domestic regions have been hit by the epidemic and flood, and the pressure of economic transformation and adjustment has appeared," said Fu Linghui, spokesman of the National Bureau of statistics and director of the Department of comprehensive statistics of the national economy. To observe the economy of a big country, we must look at the overall situation and distinguish the general trend. We should not only correctly view the "shape" of the rise and fall of local data, but also accurately grasp the "trend" of the overall improvement of the economy. Fu Linghui said that from the cumulative point of view, the GDP in the first three quarters increased by 9.8% year-on-year, still higher than the expected target. The main macro indicators are generally in a reasonable range, and there are many bright spots in economic operation. Employment prices were basically stable - 10.45 million new jobs were created in cities and towns across the country, 95.0% of the annual target; The national consumer price index (CPI) rose by 0.6% year-on-year, lower than the expected target of about 3%; The production situation is stable and improving - the added value of agriculture (planting industry) increased by 3.4% year-on-year, with an average growth of 3.6% in two years; The added value of industries above designated size increased by 11.8% year-on-year, with an average growth of 6.4% in the two years; Foreign trade and foreign investment continued to improve - the total import and export of goods increased by 22.7% year-on-year, and the actual use of foreign investment in the first eight months increased by 22.3% year-on-year; Domestic demand continued to recover - fixed asset investment (excluding farmers) increased by 7.3% year-on-year, with an average growth of 3.8% in two years; The total retail sales of social consumer goods increased by 16.4% year-on-year, with an average growth of 3.9% in the two years; …… The latest world economic outlook report released by the International Monetary Fund (IMF) shows that the global economy is expected to continue to recover in 2021, but the momentum slows down. The annual growth rate is expected to be 5.9%, but China's economy will grow by 8%. "Major international organizations expect that China's economy will still maintain a high growth rate of about 8% in 2021, which is not only higher than the global average growth rate, but also higher than the growth rate of major economies, reflecting that the international community is optimistic about China's economic growth prospects," Fu Linghui said. Seize the opportunity and unleash the vitality of China's economy Although the growth rate of some major economic indicators has dropped, some breakdown data show that China's economic structure adjustment has been continuously optimized in the first three quarters, the quality and efficiency of development have been continuously improved, and the momentum of development has been steadily enhanced. Better economic structure—— In the first three quarters, the proportion of added value of China's manufacturing industry was 27.4%, an increase of 1.1 percentage points over the same period of last year. Among them, the added value of high-tech manufacturing above designated size increased by 20.1% year-on-year, faster than that of all industries above Designated Size; The contribution rate of final consumption was 64.8%, an increase of 3.1 percentage points over the first half of the year, of which upgrading consumption and investment in high-tech industries increased rapidly. In the face of risks and challenges, more and more enterprises want motivation for innovation, seize opportunities, overtake by changing lanes, create core advantages and firmly grasp the development initiative. In Suzhou, Jiangsu Province, there are few traces of workers in the large production workshop of Jingyi group, a textile and garment enterprise. The silk thread ejected by equipment forms "whirlpools" and yarn is born. "Facing the multiple impacts of rising raw material prices and rising labor costs, the company pays close attention to the research and development of 'vortex spinning' technology, improves spinning speed, develops recycled fibers and improves product added value." Chen Lu, general manager of Jingyi group, said that in the first three quarters, the group achieved sales of 1.645 billion yuan, a year-on-year increase of 20.5%. Rapid growth of new kinetic energy—— In the first three quarters, the output of new energy vehicles and industrial robots in China increased by 172.5% and 57.8% respectively year-on-year; The online retail sales of physical goods increased by 15.2% year-on-year, accounting for 23.6% of the total retail sales of social consumer goods. "New kinetic energy is an important force supporting the sustained and steady recovery of China's economy. China will increase investment in the field of innovation and catch up with cutting-edge countries in the world. In the future, it will form a new competitive advantage in the corresponding industrial chain," said Li Chengjian, deputy director of the second Research Office of the macro Department of the development research center of the State Council. In the third quarter, China's industrial capacity utilization rate was 77.1%, at a good level in the same period in recent years; In the first three quarters, investment in education and health increased by 10.4% and 31.4% respectively year-on-year, faster than the growth of all investment... The results of supply side structural reform show that China's economy is showing "progress", which will further consolidate the foundation of economic "stability". However, it is undeniable that recent problems in China's economic operation, such as the continuous rise of commodity prices, the prominent contradiction between energy supply and demand, and the impact on the industrial chain supply chain, have further exposed the long-standing structural contradictions in the process of economic transformation and upgrading. "China's economy is in a critical period of transformation to high-quality development. Although the short-term emergency policy for slowing growth can have an immediate effect, in the long run, the policy focus should be on a package of structural policies to promote long-term and healthy economic development, including improving total factor productivity through improving the reform of investment and financing system." Said Chen Yuyu, Professor of Applied Economics at Guanghua School of management, Peking University. Chopping waves and chopping waves, China's economy bravely opens a new situation Under multiple tests, we should strengthen our confidence in development and maintain a sober mind in the steady recovery. Looking at the fourth quarter and early next year, the risks and challenges facing China's economy become more complex and severe: the global epidemic is still full of variables, the inflation level of major economies continues to rise, and the international commodity prices are running at a high level; The imbalance and inadequacy of domestic economic development remain prominent, and the foundation for recovery needs to be further consolidated. The more arduous the challenge, the more we should unswervingly do our own things. We should not relax our efforts in the prevention and control of normalized epidemic situations, focus on the long term, seek vitality from reform, break development bottlenecks, seek impetus from opening up, expand development space, and constantly activate the great potential of China's economy. With "stability" at the forefront, we will further make efforts to cross cycle adjustment and keep the economy running within a reasonable range—— Last year, China's quarterly economic growth fluctuated greatly, forming a base effect this year. Cross cycle adjustment is needed to prevent sharp fluctuations in growth, so as to make the two-year average growth rate and month on month growth as stable as possible and maintain in a reasonable range. "In the fourth quarter, to stabilize growth, we should give better play to the role of active fiscal policy, make good use of local government special bonds, and drive the expansion of effective investment," Gao Ruidong said. A series of reforms and measures to ensure supply and stabilize prices were quickly introduced to further improve energy production and supply; Take multiple measures at the same time to prevent the rise of commodity prices from transmitting to the downstream of the supply chain and ensure the stability of civil power prices... Focus on the concerns of market subjects, implement accurate policies and stabilize market expectations in order to stabilize the basic economic market. Under the guidance of the word "new", we will strive to deepen reform and opening up and stimulate the potential of economic development—— This year, L'Oreal will "upgrade" its China headquarters in Shanghai to its North Asia headquarters. Ye Hongmu, chief executive of L'OREAL group, said that sales in Chinese mainland increased by 34.2% over the first half of the year, which remains the main engine of the group's growth and will continue to consolidate the Chinese mainland market in the future. Promote the implementation of the negative list of cross-border trade in services throughout the country, and explore the construction of a national demonstration area for innovation and development of trade in services; Promote the introduction of reform and innovation policies and measures for trade and investment facilitation in the pilot free trade zone; Further reform and improve the management of scientific research funds of the central government, accelerate the construction of a strategic scientific and technological force led by the National Laboratory... Aim at the short board blocking point in the construction of a new development pattern, advance the reform and opening up to the deep water area, smooth the economic cycle and stimulate the economic potential. The snow pressed the pine, and the pine was straight and straight. Embarking on a new journey, the more complex and severe the development situation is, the more it is necessary to deepen reform and opening up, take high-quality development as the theme, fully implement the new development concept, and reshape the lasting driving force of future development in accelerating the construction of a new development pattern. With more than 70 days to go before the end of the opening year of the 14th five year plan, we should keep a clear head, make every effort to sprint with the attitude of seizing the day, ensure that the annual economic and social development goals are achieved on schedule, and make a good start and take good steps for the 14th five year plan. (outlook new era)