Why is the growth rate of about 5% in line with reality

2023-03-06

Every year, the two sessions of the National Congress are an important window to observe the trend of China's economy, and the goal of GDP growth has attracted much attention. This year's government work report puts forward that "the gross domestic product will increase by about 5%". What should we think of this expected indicator? This is a goal of combining quality and quantity, taking into account needs and possibilities. For an economy as large as ours, it is crucial to maintain stable economic operation. The 20th National Congress of the Communist Party of China clearly stated that China's per capita GDP should reach the level of moderately developed countries by 2035, which requires us to maintain reasonable economic growth in the long term on the basis of improving the quality of development. The growth target of about 5% is organically linked with the target of the "14th Five-Year Plan", which is in line with the development reality and is both positive and stable. Setting reasonable economic growth targets is conducive to sending positive signals to the market, boosting confidence and guiding all parties to focus on improving the quality and efficiency of development. From the perspective of economic development capacity and conditions, this goal is compatible with China's economic growth potential at this stage, and the resource factor conditions are also supportable. This is a goal of seeking progress in stability and striving for success. As the world's second largest economy, the expected growth rate of about 5% is still a medium-high speed growth on a high base, which is also a relatively fast pace compared with other major economies in the world, reflecting the steady progress and initiative. With the implementation of the measures to optimize and adjust the epidemic prevention and control, the stock policy and the incremental policy will work together, and China's economy will accelerate its recovery and recovery. Recently, the International Monetary Fund, the World Bank and other international institutions have raised their expectations of China's economic growth, and believe that China is expected to become the "locomotive" driving the world economic growth in 2023. This is also a goal that requires hard work. At present, China's economy is stabilizing and recovering, but its economic operation still faces many risks and challenges. The external environment is volatile, the growth momentum of the world economy is weakened, and the recovery is weak. The foundation of domestic economic recovery is not yet solid. The triple pressures of demand contraction, supply shock, and weakening expectations are still large. It is not easy to do a good job in economic work. Therefore, it is not easy to achieve the growth rate of about 5%. It needs to bear the pressure and jump to reach a high level. It requires the concerted efforts of policies and hard work, and strive to achieve better results in practical work. Make concerted efforts to work hard and move forward regardless of weather. After a long and hard struggle, especially the hard work of the new era for 10 years, China's comprehensive national strength, social productivity, international influence, and people's living standards have been further improved. China's development has a more solid material foundation, a more complete system guarantee, and a more active spiritual force. In general, China's development trend and mainstream are significantly better than other major economies in the world, with strong economic resilience, great potential and vitality. The fundamentals for long-term improvement have not changed. The economic development in 2023 will still have a good supporting foundation and many favorable conditions. More

Edit:Hou Wenzhe    Responsible editor:WeiZe

Source:economic dairy

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