Zong Liang: China's economy will present four major characteristics in 2020, and the economic growth in 2021 is expected to be around 8%
China News Service, Beijing, January 18 (Reporter Xia Bin) China's 2020 annual economic report card was announced on the 18th. On that day, the China News Agency Forum "China Economic Situation Analysis Meeting" was held in Beijing.
Zong Liang, chief researcher of the Bank of China, said at the meeting that China's economy will show four major characteristics in 2020 from an unfavorable start to an unexpected end.
Specifically, Zong Liang pointed out that, first, to achieve growth beyond expectations, the annual GDP growth rate reached 2.3%.
"The whole world is facing the same environment in 2020. The Chinese people’s “smart work” and “hard work” have achieved hard-won achievements today. This is also very prominent from a global perspective. It has achieved the only positive effect in major economies. The momentum of growth."
Second, despite fluctuations in consumption, investment, and foreign trade, balanced growth has been achieved.
Zong Liang said that the impact of the epidemic on consumption throughout the year is not small. Consumption data fell by 3.9% year-on-year. This is the first decline in many years. From an investment perspective, private investment began to gradually turn positive from January to October, which is very prominent. In the new situation, exports have also achieved unexpected growth.
On the whole, the three major demands have risen and fallen, driving the overall economic development to a good momentum.
Third, the development of the new economy and digital economy deserves special attention.
Zong Liang said that investment in high-tech manufacturing, such as medical manufacturing, computer and office equipment manufacturing, will increase by 28.4% and 22.4% respectively in 2020, and investment in e-commerce services and information services in high-tech service products will increase by 20.2%. , 15.2%, which shows that the Chinese economy has indeed undergone morphological changes.
Fourth, the signing of RCEP and the completion of China-EU investment agreement negotiations.
In Zong Liang's view, these two achievements are very outstanding, reflecting the widespread recognition of the multilateral system by the international community.
Especially considering that China’s largest trading partner is ASEAN and the second largest trading partner is the European Union, strengthening cooperation with them is a win-win situation.
Zong Liang said bluntly that 2021 is the first year of the "14th Five-Year Plan" and a very important year for the construction of a new development pattern. The external environment may improve, but the uncertainty is also great.
"We expect that in 2021, China's economy may reach an ideal speed, such as a relatively high speed of about 8%. Of course, this requires joint efforts from all parties." (End)