In a more unstable and uncertain world, China has the confidence and ability to continue to promote high-quality economic development and inject a steady stream of confidence and momentum into the global economy under the shadow of the epidemic。
Analysts believe China's economic growth may pick up gradually in the third and fourth quarters and is expected to return to pre-crisis levels by the end of the third quarter as consumption recovers and domestic stimulus measures take effect. China's modest growth in 2020 and strong recovery in 2021 are expected to be better than other economies.
In its previous World Economic Outlook, the International Monetary Fund said the world economy faced its worst recession since the Great Depression of the 1930s and predicted that China would be the only major economy to achieve positive growth in 2020.This judgment has aroused great concern at home and abroad about China's economic trend.
China's consumer price index (CPI), a main gauge of inflation, rose 2.5% in June from a year earlier, according to data released on the national Bureau of Statistics website on July 9.The producer price index fell 3 per cent in June from a year earlier, narrowing the decline.China's CPI rose 3.8% in the first half from a year earlier.
At the same time, the renminbi against the DOLLAR exchange rate as a whole also showed a significant strengthening trend.On July 9, both the onshore and offshore RMB exchange rates against the US dollar broke the seven mark, returning to the "six times".
"Just a few months ago, the 'Asian giant' caught in the severe impact of coVID-19 has clearly recovered, and the Chinese economy is moving into the next cycle."So said Bloomberg on July 9, local time.
The continuous recovery of China's economy, coupled with the frequent release of warm policy towards foreign investment, has strengthened the determination of many foreign investors to stay and develop in China.A number of foreign investors have expressed their optimism on China's economic recovery and will continue to increase their investment in the Chinese market.
Economic indicators have improved at the margins in recent months and the recovery has shown signs of picking up speed.China's manufacturing purchasing managers' index (PMI), released by the National Bureau of Statistics on June 30, rose 0.3 percentage points to 50.9 percent in June from the previous month, marking the fourth consecutive month in a business cycle.
The market took it as a sign that Beijing's strategy of firmly controlling the epidemic was starting to pay off.
n foreign eyes, China's innovative online shopping mode is the "secret" to accelerate the rapid recovery of China's consumer market.
According to the data released by China's Ministry of Commerce, from January to May, online retail sales in China reached 4 trillion yuan, up 4.5% year on year.Online retail sales of physical goods reached 3.4 trillion yuan, up 11.5%.It accounted for 24.3% of total retail sales of consumer goods, up 5.4 percentage points year on year.
Ma Rucheng, general manager of Ferrero China, predicted that "once the epidemic is over, consumer demand in The Chinese market will recover quickly, and the future development of China's consumer market will have more stamina, stronger momentum and more rapid rebound."
China aims not only to become the world's largest economy and consumer market, but also to become a new highland for scientific research, innovation and business environment.