Foreign media interpret China's "economic signals"

2022-12-20

The recently concluded Central Economic Work Conference continued to attract attention from all walks of life. The Lianhe Zaobao of Singapore reported on its 19th daily that when China's economy was under heavy pressure, the Central Economic Work Conference of the Communist Party of China stressed the need to keep the economy running smoothly, and the signal released at the meeting was very clear, including the need to lower the requirement for equal treatment of state-owned enterprises and private enterprises from the system and law, encourage and support the development and growth of private economy and private enterprises from the policy and public opinion, protect the property rights and entrepreneurs' rights of private enterprises according to law, It also requires leading cadres at all levels to solve problems for private enterprises, do practical things, and build a close relationship between government and business. According to the Lianhe Zaobao, after the Central Economic Work Conference put forward the idea of "supporting platform enterprises to show their talents in leading development, creating jobs and international competition", Yi Lianhong, secretary of the Zhejiang Provincial Party Committee, conducted a survey on Alibaba Group on the 18th, emphasizing the need to promote the standardized, healthy and sustainable development of the platform economy and guide the healthy development of capital. The Wall Street Journal reported that at the Central Economic Work Conference, Chinese leaders called for stabilizing the economy by stimulating domestic demand, and hinted that they would further relax relevant policies that led to the decline of real estate and hindered private enterprise investment. However, Newman, the chief Asia economist of HSBC, believes that this does not mean that China currently intends to achieve growth at all costs. He said that the Chinese government has not given up some structural goals, such as strengthening financial and local debt risk prevention and control. "China's economy will revive next year." The Lianhe Zaobao reported on this topic on the 19th that the Central Economic Work Conference took supporting the development of private economy as a "starting point" to boost market confidence, which is relatively rare in recent years. Now, China has entered a new stage of liberalizing epidemic control, and economic development has again become the top priority of officials at all levels. The high-level officials requested that starting from supporting the development of private economy, we should boost market confidence, which is conducive to the revitalization of China's economy as soon as possible. Bloomberg said that the Chinese leadership said it would focus on boosting the economy next year. Economists believe that these signals are very clear. The focus next year is to boost GDP, and policymakers may set the growth target at 5% or higher. Adam Wolf, an economist at Absolute Strategy Research, said: "The biggest change this year seems to be that the Chinese government pays more attention to improving the business environment for foreign capital and private enterprises, especially Internet platform enterprises. This may help restore confidence and boost investment in light manufacturing and service industries." (Liu Xinshe)

Edit:Hou Wenzhe    Responsible editor:Weize

Source:global time

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