国产精品99一区二区三_免费中文日韩_国产在线精品一区二区_日本成人手机在线

Commentary: China’s economy defies global headwinds with greater resilience

Source: Xinhua| 2019-04-03 19:22:44|Editor: mingmei
Video PlayerClose

BEIJING, April 3 (Xinhua) -- China is a country under much scrutiny, and any economic changes it makes, big or small, are likely to come under the microscope.

This March, the Purchasing Managers’ Index (PMI), a main gauge of the manufacturing sector, reversed its downward trend to reach a six-month high. Before that, it had hovered below the boom-bust line for three months.

In addition, the latest development on fixed-asset investment and retail sales beat expectations, with consumption in rural areas and online sales posting robust growth, in particular.

The sound economic data came in as the International Monetary Fund (IMF) warned earlier that clouds were building for a possible "economic storm" in 2019, citing factors including trade tensions, tariff escalations, financial tightening, Brexit uncertainty, and a slowdown of the Chinese economy. Good news out of China is immediately turning stock markets green. Wall Street rallied as strong China data helped allay concerns about a slowdown in global growth.

To credit these encouraging changes to cyclical factors is superficial. Long-sighted government stimulus has played a key role.

One reason behind the economic upturn is tax cuts. The government has slashed the value-added tax rate in multiple industries, reduced social insurance contributions and streamlined administrative procedures on an unprecedented scale.

A deeper cause is China’s ongoing structural reform, which has been reshaping China’s economic structure by relying less on investment and exports, with consumer spending accounting for 76.2 percent of GDP last year.

More attention has been attached to the private sector. The Chinese government believes in the essential role of the private sector, as can be seen in strengthened funding support and eased market access for private firms.

Compared with policy tools used in the past, such as loosening credit and massive short-term stimulus, China's leadership is taking structural reforms seriously.

While external uncertainties will remain this year, China will push for structural reform in a steadfast manner. China withstood the test of previous headwinds and will stand the test of upcoming uncertainties so long as it stays resolute in advancing structural reform.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001379470331
主站蜘蛛池模板: 东丽区| 深圳市| 佛坪县| 宁海县| 汝州市| 澄迈县| 宣武区| 武夷山市| 玉门市| 六安市| 台前县| 西昌市| 津南区| 洛宁县| 茶陵县| 子洲县| 北流市| 五寨县| 黑山县| 高阳县| 秭归县| 孝昌县| 绥中县| 肃北| 商河县| 招远市| 龙海市| 措勤县| 古浪县| 迭部县| 咸阳市| 武清区| 启东市| 鸡西市| 肇庆市| 苏尼特右旗| 安义县| 江达县| 黄陵县| 黄大仙区| 富川|