Chen Xingdong: China's economy needs to grow steadily and maintain growth next year

　　China News Service, Guangzhou, December 5 (Sun Qiuxia) At the 18th Global Annual Meeting of the International Finance Forum held on the 4th, Chen Xingdong, China Chief Economist of BNP Paribas, pointed out that China’s economy needs to regain steady growth next year. , Maintain growth, restore the momentum of China's economic growth, and provide a good economic environment.

　　In the first, second, and third quarters of this year, China's gross domestic product (GDP) grew at 18.3%, 7.9%, and 4.9% year-on-year, and the two-year average growth rates were 5.0%, 5.5%, and 4.9%, respectively.

　　In Chen Xingdong's view, the current state of China's economic growth is caused by many factors, including the repeated epidemics and the huge impact on China's economic consumption demand, especially the growth of the service industry.

　　Chen Xingdong puts forward several suggestions for China to maintain growth next year. In terms of macro policy control, he believes that after the policy comes out, it must be evaluated, whether each individual policy is correct, but when combined, it will affect economic growth. Caused stress.

In addition, in the process of policy implementation, it is necessary to strengthen communication with the market.

　　It is worth noting that recently, Fed Chairman Powell announced to the outside world that he would abandon his judgment on the "temporary nature of inflation."

　　Chen Xingdong pointed out that Powell's views on inflation and employment have basically changed. He now believes that inflation may last longer and have a higher magnitude.

Everyone is anticipating that the time for the Fed's quantitative easing and contraction may be shortened, and the time for raising interest rates may be premised. This will put a certain amount of external pressure on China's large-scale monetary policy adjustment, but this should not become a resistance.

　　"The People's Bank of China has always emphasized the need to provide sufficient liquidity to the market. This is not a problem, but the key is how to understand ample liquidity. If the loan conditions become tighter and tighter, you can get credit for things, such as Refinancing or refinancing is becoming more and more difficult, economic vitality will inevitably decline, and the total scale of social financing will definitely decline, so it is necessary to adjust." Chen Xingdong said.

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