China News Service, December 15th. National Bureau of Statistics spokesperson Fu Linghui said on the 15th that from the next stage, China's economy is expected to become the only economy that achieves positive growth among the world's major economies throughout the year.

　　The State Council Information Office held a press conference on the 15th to introduce the operation of the national economy in November 2020.

At the meeting, a reporter asked, after the economic data of the previous 11 months are released, will the Bureau of Statistics currently have an estimate of the annual economic growth rate, and at what level?

There are currently forecasts that next year, China’s economy may see a growth of about 8% or double digits. I don’t know what the Statistics Bureau thinks?

The November figures for infrastructure and real estate investment look very good. Will they continue to be the main engines of steady growth?

　　Fu Linghui responded that from the main data in November, the economic growth in the fourth quarter is expected to continue to accelerate compared with the third quarter, because both production and demand are steadily picking up.

From the perspective of the next stage, the Chinese economy is expected to become the only economy in the world's major economies that has achieved positive growth throughout the year.

Data map: Workers work on the production line.

Photo by China News Agency reporter Zhang Chang

　　Fu Linghui said that from the perspective of production, the recovery of production is expanding and the balance is improving.

From an industrial perspective, among the 41 major industries, more than 70% of the industries have achieved growth. Among them, the equipment manufacturing industry has supported industrial growth in the early stage, and the consumer goods manufacturing industry has also rebounded steadily recently.

The consumer goods manufacturing industry grew by 3% year-on-year in November, continuing to accelerate from the previous month, and the recovery of the entire industry is improving.

From the perspective of the service industry, 7 of the 8 major industries in the service industry production index have achieved growth. In the early stage, some modern service industries have grown relatively fast, which has an obvious supporting effect on the service industry.

In the near term, the relevant producer services and life services are also improving, and the balance of the entire economic recovery is improving.

　　From the perspective of demand, the rebound in demand is consolidating, and the endogenous growth continues to increase.

Both the total retail sales of consumer goods and the growth rate of fixed asset investment are steadily picking up.

From the perspective of consumption this month, the sales of upgraded products have grown at a relatively rapid rate. The sales of communication equipment products above the designated size have increased by more than 40%, and the sales of cosmetics, gold and silver jewelry, and sports and entertainment products have increased by more than 20%. The role of driving has gradually recovered from the initial support of basic living consumption growth to the normal driving of upgraded consumption.

　　In terms of investment, the vitality of market investment is increasing. This is mainly reflected in a year-on-year increase of 0.2% in private investment this month, which is the first time this year to turn from negative to positive.

Both the manufacturing PMI and the non-manufacturing business activity index reached new highs during the year, and the steady recovery of economic operations has been consolidated and improved.

　　Fu Linghui pointed out that as the economy gradually returns to normal operation, I believe it is worth looking forward to maintaining a good level of growth throughout the year.

There are many favorable factors for economic operation next year, and it is more likely that the economy will gradually return to the potential growth level.

Due to the low base this year, from the perspective of speed, the growth may be faster, but it does not mean that the economy has undergone significant changes.

　　Fu Linghui said that from the next stage, consumption is still an important engine supporting the sustained and healthy development of China's economy. In recent years, the contribution of consumption has played a leading role in economic growth, and the contribution of consumption in domestic demand is more prominent.

As the economy gradually returns to normalized growth, consumption will still become the main support engine of the economy.