Recently, multiple foreign financial institutions have gradually raised their forecasts for China's economic growth rate, demonstrating their confidence in the Chinese economy. Deutsche Bank stated that China's economic growth rate is expected to reach 5% in the fourth quarter, with a full year economic growth rate of 5.1%. JPMorgan Chase has raised China's economic growth rate by 0.2 percentage points for the entire year, expected to be 5%. What is the basis for foreign-funded institutions to increase China's economic growth forecast? Despite the downward fluctuations in the world economy and the increasingly complex and severe external environment, China's gross domestic product increased by 5.2% year-on-year in the first three quarters. Economic indicators such as industry, service industry, and consumption have maintained growth, and the national economy has continued to improve. Against this backdrop, what does it mean for foreign institutions to increase their growth forecast? What are the advantages of China's sustained economic growth this year? How will China's economy continue to improve and attract foreign investment? Listen to the expert's interpretation ↓↓↓ Sheng Chaoxun, Director of the Strategic Policy Office of the China Macroeconomic Research Institute: The upward adjustment of foreign investment's expectations for China's economic growth rate indicates optimism and increased confidence in China's economic growth prospects. So where does the confidence of foreign institutions come from? We believe that there are three aspects. Firstly, based on the actual performance of China's economy in the first three quarters, foreign institutions adjust their expectations of China's economic growth rate. It is a mechanistic approach, usually making a prediction for the next year at the end of the year. Then, after the quarterly economic data is released, a correction should be made according to the actual situation, which may be upward or downward. This is a common practice. This time is no exception, as everyone has raised their expectations for China's economic growth rate. In fact, I saw the actual performance of various economic indicators in the first three quarters and saw a favorable trend of economic stabilization and recovery. Secondly, based on China's economic policies, there is an additional emphasis. The strengthening of short-term policy efforts should enhance the confidence of foreign institutions. Since the beginning of this year, the Party Central Committee and the State Council have introduced a series of measures to stabilize growth, effectively promoting the stabilization and improvement of economic growth. In particular, on October 24, the sixth meeting of the Standing Committee of the 14th National People's Congress voted to approve the State Council's plan to issue additional treasury bond and the central budget adjustment plan for 2023. The issuance of an additional 1 trillion treasury bond, the increase of the deficit ratio, and the issuance of special bonds approved in advance are conducive to promoting infrastructure construction, reducing the pressure on local debt, and effectively improving social expectations. Thirdly, based on recognition of the long-term and sustained transformation of the Chinese economy towards a positive development model. Because while maintaining stable growth, we have always attached great importance to transforming our economic growth model into high-quality development, vigorously promoting new industrialization and modernization of the industrial chain supply chain, accelerating the development of strategic emerging and future industries, promoting green transformation and upgrading of industries, and deeply integrating innovation chains, industrial chains, capital chains, and talent chains. We will make greater efforts to promote high-level institutional openness, actively expand new areas and channels of international economic cooperation, and achieve significant results in high-quality economic development. How will China's economy gradually improve and attract foreign investment in the future? How attractive is the Chinese market to foreign investment, and the perception of multinational enterprises is the most convincing. In the third quarter of this year, the China Council for the Promotion of International Trade conducted research and visits to nearly 700 foreign-funded enterprises,
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：CCTV
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