Xinhua News Agency, Beijing, October 24 -

Title: Ten Questions Chinese economy

  Xinhua News Agency reporter

  2021 is the first year of the "14th Five-Year Plan" and the beginning of the new journey of building a modern socialist country in an all-round way. The development trend of China's economy has attracted much attention.

  The main data of China’s economy in the first three quarters have been released recently. Facing the complex and severe domestic and foreign environment, China’s economy has maintained a recovery trend with major macro indicators in a reasonable range. On the basis of overall stability, it continues to “progress towards high-quality development”. ", laying a solid foundation for achieving the annual economic and social development goals.

  But at the same time, economic growth has fallen, commodity prices have risen, and power rationing in many places across the country... The global epidemic and economic trends have become more complicated, and some new situations and old problems are intertwined, and the risk and challenges remain unabated.

  Observing the Chinese economy, we must look at it from a comprehensive dialectical and long-term perspective, so that we can clearly recognize the general trend in short-term fluctuations, unearth deep motivation from pressure and challenges, boost confidence in bright spots and resilience, and consolidate majestic efforts to unswervingly promote high-quality development. strength.

  Xinhua News Agency reporters recently sorted out the top ten social concerns and hot issues at home and abroad, and interviewed authoritative departments and people to respond.

How to view the current economic trend and where is China's economic stamina?

  Compared with the year-on-year growth of 9.8% in the first three quarters of this year, China's economy grew at an average rate of 5.2% in two years. The year-on-year growth rate in the third quarter dropped to 4.9%.

  The 9.8% growth rate in the first three quarters is far higher than the annual growth target of "over 6%" set at the beginning of the year, and also higher than the global average growth rate and the growth rate of major economies.

It should be said that China's economy has maintained the momentum of continuous recovery since the second half of last year.

  However, compared with the 18.3% economic growth rate in the first quarter of this year and 7.9% in the second quarter, the growth rate of “breaking 5” in the third quarter has attracted considerable attention and even caused some concerns.

  What is the reason for the slowdown in quarterly growth?

  The base effect is a big factor.

-6.8%, 3.2%, 4.9%, 6.5%. The upward line drawn by the Chinese economy in the four quarters of last year indicates that this year's economic trend in China will inevitably be "high in the front and low in the back", and the slope is relatively steep.

  Short-term factors also bring certain impact.

Since the second half of the year, the domestic epidemic has spread in many places. Henan and Shanxi have suffered heavy rains and floods. Coupled with multiple factors such as the slowdown of global economic growth and high prices of bulk raw materials, the road to economic recovery has encountered difficulties.

  With sufficient control tools, the economic growth rate must be even faster. In the face of the economic downturn, the central government maintains its strategic determination, resolutely refrains from "overwhelming flooding", and adopts continuous efforts to promote green and low-carbon development and reduce Measures such as real estate and debt dependence have released policy signals not to follow the old path of extensive growth and firmly move towards high-quality development.

  "The slowdown in growth in the third quarter is a good thing for the Chinese economy in the long run." Germany's Frankfurter Allgemeine Zeitung commented that if China does not undergo these structural adjustments, economic growth will be faster, but the Chinese economy may not. On the right track.

  Observing the economic situation requires not only the short-term, but also the long-term, and the overall situation, so that we can see the future and discern the general trend.

  In the face of multiple risks and challenges, the "stability" characteristics of China's economy are still distinctive, and the bright spots are outstanding.

On October 23, at the main venue of the "Hundred School Recruitment" event held in Nanchang, Jiangxi Province, a graduate (left) talked with a staff member of a recruiting company.

Photo by Xinhua News Agency reporter Peng Zhaozhi

  The four major macroeconomic indicators of "economic growth, employment, prices, and international payments" show that the "basic market" of China's economy is still stable-

  The economy was still operating within a reasonable range in the first three quarters; 10.45 million new jobs were created in cities and towns across the country, achieving 95% of the annual target; the national consumer price rose by 0.6% year-on-year, and the overall price level remained stable; imports and exports and the use of foreign capital remained high growth , Foreign exchange reserves have been maintained at more than US$3.2 trillion for five consecutive months.

On June 8, the harvester harvested wheat in a wheat field in Pingyi County, Linyi City, Shandong Province.

Published by Xinhua News Agency (Photo by Wu Jiquan)

  The production situation is stable and improving, and the innovation momentum continues to increase——

  The increase in autumn grain production is a foregone conclusion, and the annual grain output is expected to hit a record high; in the first three quarters, the two-year average growth of production and investment in the high-tech manufacturing industry was both double-digit; the output of new energy vehicles, industrial robots, and integrated circuits were respectively year-on-year Increased by 172.5%, 57.8%, 43.1%...

On July 1, in the industrial robot production workshop of Nanjing Estun Automation Co., Ltd., located in Jiangning District, Nanjing City, Jiangsu Province, the industrial robot was undergoing a running-in test.

Photo by Xinhua News Agency reporter Li Bo

  Corporate profits have grown steadily, and economic benefits have continued to increase——

  In the first eight months, the profits of industrial enterprises above designated size increased by 49.5% year-on-year and 42.9% year-on-year; in the first three quarters, the recovery growth of fiscal revenue was generally stable, and the national general public budget revenue increased by 16.3% year-on-year; after deducting price factors , The national per capita disposable income increased by 9.7% in real terms, basically keeping pace with GDP growth...

  Under multiple tests, we must strengthen our confidence in development, and we must stay awake while we are recovering steadily.

  On the one hand, we must see that under the more complicated domestic and foreign situation, economic growth in the fourth quarter and early next year still faces many risks and challenges.

Among the four major macroeconomic indicators, the structural contradictions in employment are prominent, and the "scissors gap" between CPI and PPI has widened; in the "troika", there are still many factors restricting investment and consumer demand...

  On the other hand, we must firmly believe that even though the Chinese economy is facing more complex phased, structural and cyclical problems, we have the means and the ability to stabilize the momentum of continuous recovery, maintain strategic determination, and continue to strengthen the endogenous driving force of the economy.

  Facing pressure, confidence is more precious than gold.

  China is a super-large economy with strong resilience. This resilience comes from the competitiveness of nearly 150 million market players, from the integrity of the economic system, from the super-large domestic market and the unremitting pursuit of hundreds of millions of people to achieve a better life through hard work .

  At present, international organizations generally predict that China's economy can still achieve economic growth of about 8% this year.

  Looking at the general trend, we are fully capable and qualified to achieve this year's economic and social development goals. The general trend of China's long-term economic improvement will not change, and the Chinese economy will surely move forward steadily on the track of high-quality development.

What is the stamina of consumption and investment, and how should we play the game of expanding domestic demand?

  Consumption and investment are the "dual engines" for expanding domestic demand.

In the first half of this year, the contribution rate of domestic demand to China's economy exceeded 80%.

  Consumption is picking up.

In the first three quarters, the total retail sales of consumer goods was 3185.7 billion yuan, a year-on-year increase of 16.4%, maintaining a rapid double-digit growth.

In September, the total retail sales of consumer goods increased by 4.4% year-on-year, an increase of 1.9 percentage points from the previous month, and market sales further accelerated.

  With the spread of the global epidemic, the resilience of China's consumer market has become more prominent, and the main driving force of consumer demand for economic growth has become more apparent.

In the first three quarters, the contribution rate of final consumption expenditure to economic growth was 64.8%, an increase of 3.1 percentage points from the first half of the year.

At the same time, upgrading consumption has grown rapidly, and online consumption has continued to be hot.

  Consumption is also showing ups and downs.

In August, affected by the multiple outbreaks of the epidemic, consumption increased by only 2.5% year-on-year, and the growth rate dropped by 6 percentage points from the previous month, which was the lowest in the past year; in September, the epidemic was effectively controlled, superimposed on consumption promotion policies and the Mid-Autumn Festival consumption boost , Consumption further picks up.

On October 2, people played in Yuyuan Garden in Shanghai.

Photo by Xinhua News Agency reporter Wang Xiang

  There is no shortage of bright spots in investment.

In the first three quarters, national fixed asset investment increased by 7.3% year-on-year, achieving steady growth.

Among them, the year-on-year growth of investment in manufacturing was 7.5 percentage points higher than the growth rate of total investment; investment in high-tech industries increased by 18.7% year-on-year.

  However, it should also be noted that in the first three quarters, the year-on-year growth rate of total retail sales of consumer goods and fixed asset investment slowed down compared with the first half of the year.

The epidemic has repeatedly caused continuous negative effects on service consumption and contact consumption; due to the large increase in raw material costs and the impact of the epidemic and flood conditions, investment growth has slowed down.

  Taking into account the current volatile external environment and the possible decline in export growth in the future, it is more critical to stabilize and expand domestic demand.

  What is the future consumption trend?

In view of last year's base factor, the overall growth rate of consumption this year will show a pattern of "high before and low". In October and throughout the fourth quarter, consumption will continue to recover steadily. It is estimated that the total retail sales of consumer goods for the whole year is expected to reach 44 trillion yuan.

  On the whole, China's consumer market has huge potential, and the trend of upgrading is obvious. The foundation of consumption recovery is still sound.

On October 7, two young people watched a poster of the movie "Changjin Lake" in a theater in Beijing.

Photo by Xinhua News Agency reporter Li Xin

  What is the consumption potential of the Chinese people?

It can be seen from this set of data: Since the release of the National Day movie "Changjin Lake", the box office has exceeded 5.2 billion yuan, and more than 100 million people have watched the film. Foreign media praised this as "an amazing number that Hollywood movies cannot match since the outbreak." .

Tickets sold out quickly on the opening day of the Beijing Universal Resort.

The Wall Street Journal believes that "tickets in seconds" reflects the huge consumption enthusiasm of Chinese tourists.

  In the future, a series of consumption promotion policies will continue to be implemented: further stabilize and boost bulk consumption, accelerate the cultivation and construction of international consumption centers, increase the development of rural markets, promote faster and better recovery of the catering market, and accelerate the development of new types of consumption... …Consumption potential is expected to be further released.

  The steady growth of investment also has a supporting foundation.

In the past few days, major projects in Zhejiang, Tianjin, Hunan and other places have started construction one after another.

In the "14th Five-Year Plan" outline, the "road map" for expanding effective investment has been drawn up, and 102 major engineering projects have been steadily advanced.

In the coming months, the introduction of more measures to expand domestic demand is expected to accelerate the cultivation of a complete domestic demand system, further smooth the domestic economic cycle, and more effectively stimulate the potential of China's ultra-large-scale market.

Can the "highlight moment" of foreign trade continue, and how to stabilize the main body and order?

  Foreign trade, in the latest three quarterly report of China’s economy, can be said to be one of the most outstanding performance among many data——

  In the first three quarters, the total value of imports and exports of goods trade was 28.33 trillion yuan, an increase of 22.7% over the same period last year. In particular, exports in September were exceptionally strong, with a year-on-year growth of 28.1%, far exceeding market expectations, and their role in stimulating the national economy continued to increase.

  Since the beginning of this year, some foreign institutions and foreign media have repeatedly noticed the strong growth of China's foreign trade.

According to Reuters, China's supply chain resilience is hard to underestimate.

Barclays Bank analysts said that this reflects "continuous global demand for Chinese goods."

On September 28, the "Shanghai" China-Europe Express made its debut from Shanghai and sailed to Hamburg, Germany.

Photo by Xinhua News Agency reporter Ding Ting

  Under the impact of the epidemic, global trade has shrunk, but China’s foreign trade has maintained positive growth for 16 consecutive months, especially since this year has maintained a double-digit growth: in land transportation, China-Europe freight trains, known as “steel camels”, have accumulated more The 40,000 trains have become the "destiny tie" for countries to work together to fight the epidemic; in the first three quarters of shipping, the national ports completed cargo throughput of 11.548 billion tons, an increase of 8.9% year-on-year; completed container throughput of 211 million TEUs, an increase of 9.5% year-on-year .

On October 23, a ship berthed at the container terminal in Jingtang Port Area of ​​Tangshan Port (photo by drone).

Photo by Xinhua News Agency reporter Zhu Xudong

  The "highlight moment" of foreign trade stems from the "dividend effect" of China's effective epidemic prevention and control. It is also a manifestation of the fundamentals of China's long-term economic improvement and the resilience and strength of foreign trade.

  The biggest uncertainty in global merchandise trade comes from the epidemic.

China took the lead in controlling the epidemic, resuming work and production in an orderly manner, providing a good environment for production and export.

  Behind the dazzling data, it is not without worries.

Looking at the foreign trade data since the beginning of this year, from a quarterly perspective, the year-on-year growth rate of China's imports and exports in the first, second and third quarters showed a gradual decline.

On a monthly basis, the growth rate of imports and exports in September dropped by 3.5 percentage points from August.

This is the scene of the 130th Canton Fair taken on October 15th in Guangzhou, Guangdong Province.

Photo by Xinhua News Agency reporter Liu Dawei

  Taking into account factors such as the increase in the base of foreign trade in the second half of last year, it is a high probability event that the growth rate of foreign trade this year has fallen and the overall trend of "high in the front and low in the rear" is present.

In particular, the recent floods, epidemics, and power supply shortages in some areas have also imposed certain restrictions on exports.

Behind the surge in orders, insufficient capacity, high freight rates, rising prices of bulk commodities and raw materials, and pressure on the appreciation of the RMB exchange rate...If there are goods, there is no profit, and many foreign trade companies worry about them.

  How long can the "highlight moment" of foreign trade last?

  On the one hand, with the gradual control of the global epidemic, the resumption of work and production has accelerated, and external demand has increased, which will further boost China’s exports; but on the other hand, "one-off factors" such as the sharp increase in the export of epidemic prevention materials will also Fading gradually.

Positive and negative factors influence each other, and the challenges facing foreign trade are still not small.

  Looking ahead, although the growth rate of imports and exports in the fourth quarter may fall slightly, we still have reason to be full of confidence: the fundamentals of China’s long-term economic growth remain unchanged, and the steady and qualitative growth of foreign trade is well supported. The cycle promotes each other, the added value of China's foreign trade and the level of export products continue to increase, and a series of measures to stabilize foreign trade have been implemented successively to help alleviate the worries of foreign trade companies.

  According to monitoring by relevant departments, by the first quarter or even the first half of next year, key foreign trade companies will still have sufficient orders.

It is foreseeable that imports and exports are expected to maintain steady growth throughout the year, and foreign trade will continue to play an important role in boosting China's economy.

How to look at the supply-side structural reform and how to take the road to high-quality development?

  With the current complex and multi-deformation situation facing China's economy, how to deepen the main line of supply-side structural reform?

  On the evening of October 21, the National Development and Reform Commission announced that it will implement step-by-step and orderly advance energy-saving and carbon-reduction work in key industries. The first batch will focus on steel, electrolytic aluminum, cement, flat glass, oil refining, ethylene, synthetic ammonia, calcium carbide, etc. industry.

Workers check the quality of products at Hebei Xintiehu Petroleum Machinery Co., Ltd. in Renqiu City, Hebei Province on October 15.

Photo by Xinhua News Agency reporter Mou Yu

  The more the economic development is under pressure, the more clearly the essence behind the problem can be seen, the more it can highlight the determination and determination of high-quality development.

  Since the beginning of this year, the characteristics of China's high-quality economic development have become more distinctive, the economic structure has been adjusted and optimized, the quality and benefits of development have been continuously improved, and the momentum has continued to increase.

In particular, the utilization rate of industrial capacity is at a relatively good level, the asset-liability ratio of enterprises has fallen, the growth of short-board investment in education and health has been faster than the growth of all investment, and the results of the supply-side structural reform have continued to be consolidated.

  However, at the same time, affected by factors such as the accelerated recovery of the domestic economy and the rise in international commodity prices, some resource-based industries have once again shown an expansion trend. The "two highs" projects have started to rise, and the energy consumption intensity of the nine provinces and regions in the first half of the year did not drop year-on-year. Counter-rising.

  Relevant analysts warned that with the gradual control of the foreign epidemic situation and the recovery of production capacity in major economies, it is necessary to be alert to the rise of overcapacity after the export callback.

  These phenomena highlight that the supply side is still the main contradiction between the current and future economic work, and the supply-side structural reform must and still be the main direction of economic work——

  At the end of July, the Politburo meeting made it clear and resolutely to curb the blind development of the "two highs" projects; from the central ecological and environmental protection inspection to special inspections, many places were named and exposed; the power consumption of high-energy-consuming industries was strictly controlled.

Adhere to the positioning that houses are used for living, not for speculation, and do not use real estate as a short-term means of stimulating the economy, and accelerate the development of affordable rental housing...

  Following the implementation of a series of pragmatic measures: In September, the output of crude steel, steel, electrolytic aluminum, etc., respectively set a new single-month high in the first half of the year, and then continued to fall. The export volume of steel has also fallen from the high in the first half to 5 million tons. the following.

  "The slowdown in China's economic growth is not enough to prevent it from introducing a series of policies. These policies give priority to long-term structural reforms rather than short-term growth." The British "Financial Times" website analysis stated that the growth rate of 9.8% in the first three quarters , Well above the annual economic growth target of more than 6%.

This provides a "window of opportunity" for China to get rid of the traditional growth model.

  In fact, as early as the end of last year, the Central Economic Work Conference proposed that it is necessary to make good use of the precious time window, concentrate on promoting reform and innovation, and make a good start for the "14th Five-Year Plan" with high-quality development.

Taking a good first step in building a new development pattern and seeing the new climate, we must adhere to the main line of deepening supply-side structural reforms.

  To deepen the supply-side structural reforms, we basically rely on reforms and innovations.

Since the beginning of this year, from consolidating the achievements of “three eliminations, one reduction and one subsidy”, to promoting the construction of a high-standard market system; Business environment: From supporting the Pudong New Area's high-level reform and opening up to create a leading area for socialist modernization, to accelerating the construction of the Hainan Free Trade Port... Reform and innovation continue to be deployed, and efforts are made to break the barriers that restrict the adaptation of supply and demand and the flow of factors.

  Barry is only half of 90.

Deepening the supply-side structural reform is a protracted battle.

Grasp the general tone of the work of seeking progress while maintaining stability, firmly grasp this main line, work firmly, boldly, solidly, accurately, and never look back. China's economy will surely usher in high-quality development. Bright prospects.

How to effectively deal with the issue of power curtailment, and how to ensure a safe and stable supply of energy this winter and next spring?

  Since mid-September, power supply and demand across the country have been tight, and some regions have adopted orderly power consumption measures. From September 23 to 26, power cuts occurred in individual regions, which aroused widespread public concern.

On October 20th, coal miners in Qianyingzi, Suzhou City, Anhui Province were sieving thermal coal.

Photo by Xinhua News Agency reporter Han Xu

  Coal power accounts for a relatively high proportion of power generation in China.

Electricity curtailment reflects the tight supply and demand of energy, especially coal.

  From a global perspective, since the beginning of this year, with the normalization of epidemic prevention and control, the economy has gradually recovered, and global energy demand has increased significantly; many countries have encountered energy problems, and energy prices have risen sharply.

  From a domestic perspective, the rapid growth in energy demand has led to tight coal supply and demand, and prices have risen sharply.

Large-scale losses in power generation companies have affected power generation capacity and willingness.

On October 21, at Wanneng Hefei Power Generation Co., Ltd. in Hefei, Anhui Province, staff monitored all aspects of power generation operation through a large screen.

Photo by Xinhua News Agency reporter Liu Junxi

  At the same time, some provinces have experienced strong economic recovery and rapid growth in electricity demand.

From January to September, the national electricity consumption growth rate reached 12.9%, and the electricity consumption growth rate in many provinces reached 16% to 20%.

Such a high growth in electricity consumption has brought great difficulties to power supply.

Especially in some places, the dependence on high energy-consuming and high-emission industries is still strong, and a large number of "two highs" projects have been launched, which has exacerbated the tension between energy supply and demand.

  In addition, the lack of water and electricity, and the unstable output of new energy sources, have also affected the power supply capacity.

  Right now, the heating season in the northern region has entered one after another.

It is predicted that the temperature in northern regions and other areas this winter will be lower than normal, and extreme weather may even occur.

  Can China ensure a safe and stable supply of energy this winter?

  Sword refers to the irrational rise in coal prices-On the evening of October 19, the National Development and Reform Commission issued three articles stating that it will adopt a series of necessary measures including the intervention of coal prices in accordance with the law to promote the return of the coal market to rationality and ensure safe and stable energy supply .

On the evening of the 19th, the main thermal coal futures contract "locked in" the limit for a short period of time.

In the spot market, the price of coal, which has been advancing all the way, has been lowered one after another.

  Accelerate the release of coal production capacity while ensuring safety.

Since the end of September, a batch of production coal mines have been approved, and the average daily output has increased by more than 1.2 million tons from September. The daily output on October 18 has exceeded 11.6 million tons, a new high this year.

This is a scene of night operations at the Tianjin Port Coal Terminal taken on October 11.

Photo by Xinhua News Agency reporter Li Ran

  The National Energy Administration recently announced that it will actively promote the merging of new energy power generation projects and the full generation of new energy power generation projects to further improve the power supply capacity.

  The market-oriented reform of coal-fired power generation on-grid tariffs has been further deepened.

The fluctuation range of coal-fired power generation market transaction price is not more than 10%, in principle, not more than 15%, and expanded to not more than 20% in principle. The market transaction price of high energy-consuming enterprises is not subject to a 20% increase. .

  This reform not only eases the operating difficulties of coal-fired power generation companies to a certain extent, encourages companies to increase power supply, but can also more fully transmit the pressure of rising power generation costs, curb unreasonable power consumption, and promote the transformation and upgrading of industrial structure.

  This winter and next spring, how can we ensure that the people will survive the winter safely and warmly?

  Relevant national departments have expressed their views on many occasions recently to fully guarantee the use of electricity and gas for the people's livelihood this winter and next spring.

  According to statistics, the electricity consumption of residents in China accounts for about 15% of the total electricity consumption, and the proportion of gas consumption for people's livelihoods accounts for less than 50%.

In order to ensure the stable supply of heat and electricity for people's livelihood and stable prices, the National Development and Reform Commission promotes the full coverage of medium and long-term contracts for coal for power generation and heating and gas for people's livelihood.

At present, the contract signing rate of most provinces has reached or close to 100%, and some provinces have confirmed the coal source for medium and long-term contract coal shortages, and are stepping up the signing of contracts.

  At the same time, relevant departments instruct localities and enterprises to prioritize people's livelihood, and scientifically formulate an orderly energy use plan to ensure that people's livelihood energy use is not affected.

In the new round of restructuring of the global supply chain, how can China take the initiative?

  Some countries have moved against globalization, and the global impact of the new crown pneumonia epidemic has been superimposed, which has brought unprecedented challenges to the stability of the global industrial chain and the smooth supply of the supply chain.

From the shortage of anti-epidemic materials and production shutdowns, to the insufficient supply of vaccines and the “lack of cores” in the manufacturing industry, the problem of supply chain risks is becoming more and more prominent around the world.

  The current "chip shortage" is just one of them.

From mobile phones, televisions, computers, automobiles and other industries to 5G, artificial intelligence, Internet of Things, and autonomous driving, many are plagued by the shortage of "industrial food" chips.

This also makes more and more countries realize that the layout of the supply chain cannot "put eggs in the same basket."

  Under external shocks, the longer the supply chain, the greater the risk of breakage.

When it comes to supply chain, the industry's hot words have changed from "low cost" in the past few years to "resilience" today.

More and more countries have begun to consider both production efficiency and industrial safety, and the adjustment of global supply chains has accelerated.

  The localization, regionalization, and decentralization of the supply chain have become more prominent: the United States, Europe and other economies have accelerated the introduction of manufacturing relocation plans to accelerate the localization of the global supply chain.

While shrinking the global supply chain, multinational companies have further promoted the regionalization of the supply chain to their neighbors; in order to reduce the risk of centralized procurement, diversify and decentralize global procurement, including increasing the source of procurement outside of China.

  Under this situation, will the adjustment of the global supply chain bring challenges to the security of China's industrial chain?

  As far as the Chinese market is concerned, there are indeed some foreign-funded enterprises in China that have accelerated their layout adjustments.

Especially after the outbreak, news that foreign-funded companies have announced the closure of Chinese factories has once aroused concerns.












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  At present, financial management departments are strengthening international macroeconomic policy coordination to prevent external shocks, and at the same time do a good job in cross-cyclical policy design, coordinate financial support for the real economy and prevent risks, enhance the stability of total credit growth, and ensure that the economy operates within a reasonable range.

  Keeping the bottom line of security firmly, it is necessary to consolidate the responsibilities of all parties and form a joint force.

  Preventing financial risks requires not only the institutional cage of financial management departments, but also local governments to shoulder corresponding responsibilities.

The tenth meeting of the Central Finance and Economics Committee emphasized: We must implement the same responsibilities of local party and government and consolidate the responsibilities of all parties.

  At present, some hidden dangers of regional financial risks still exist.

The handling and resolution of these risks requires local governments to consolidate their responsibilities, prevent local fiscal risks, industry risks, and regional economic risks from transferring to financial risks, focus on improving the local credit environment and financial ecology, and help small and medium financial institutions to deepen reforms and strengthen endogenous motivation. .

  Economic prosperity, financial prosperity; financial activity, economic activity.

At present, China's economy continues to recover steadily, and the financial industry is developing steadily and healthily.

China has the ability to hold the bottom line of preventing systemic financial risks, resolve financial risks with high-quality economic development, and help China's economy move forward steadily with financial running water.

  Ride the wind and waves, travel thousands of miles.

  2021 is a year of special importance in the process of China's modernization drive.

In the overall situation of the great rejuvenation strategy of the Chinese nation and the major changes in the world unseen in a century, we have taken firm steps to build a new development pattern. Although the Chinese economy faces many challenges, the opportunities are even greater.

  Under the leadership of the Party Central Committee with Comrade Xi Jinping as the core, based on the new development stage, we will completely, accurately and comprehensively implement the new development concept, build a new development pattern, promote high-quality development, do our best, and persevere in achieving our set goals , China’s economic ship will surely be able to travel steadily and achieve a brighter future.

  Text reporter: Zhao Cheng, Zhang Xudong, An Bei, Han Jie, Yu Jiaxin, Zhao Xiaohui, Yu Wenjing, Gao Jing

  Video reporter: Zhou Mengdie

  Poster design: Zhao Danyang

  New media editor: Wang Dan