China Daily, 18 Dec -- The Central Economic Work Conference held a few days ago made comprehensive arrangements for next year's economic work. In the view of foreign media, China's consumption will continue to recover, foreign investment will continue to increase, and positive policy signals will be released one after another, and China's macro economy is expected to recover further in 2024.
Reuters reported that the head of the central finance office said that China's economy will face more opportunities than challenges in 2024, and favorable conditions will be stronger than unfavorable factors.
The article quoted Xinhua News Agency as saying that macroeconomic policies will continue to support economic recovery. "China's prices are low, the level of central government debt is not high, and there are conditions for stepping up the implementation of monetary and fiscal policies. ”
The article says that next year China will seek to shift from post-pandemic recovery to sustained consumption growth. The International Monetary Fund last month raised its forecast for China's economic growth this year to 5.4 percent, attributing the adjustment to a strong post-pandemic recovery.
As the world's second-largest economy, China will cultivate new areas of consumption growth such as smart homes, entertainment and tourism, and sports events, the article said. China will also continue to monitor its real estate market and meet the reasonable financing needs of real estate companies.
The US news website BNN Breaking reported that China's economy has shown surprising resilience against the backdrop of global economic uncertainty, with growth of 5.2% in the first three quarters of 2023.
Despite global economic challenges, China's strong economic performance continues to attract foreign investors and still has the potential to expand, the article said.
According to data from the Ministry of Commerce, in the first 10 months, real investment in China by Canada, the United Kingdom, France, Switzerland and the Netherlands increased by 110.3%, 94.6%, 90.0%, 66.1% and 33.0% respectively. China has become a beacon of new opportunities, thanks largely to the resilience of the Chinese economy and efforts to expand foreign investment.
Volkswagen (China) Technology Co., Ltd., with a total investment of about 1 billion euros, is scheduled to be put into operation in Hefei, Anhui Province in early 2024, according to the article. In the first 10 months of this year, the actual use of foreign capital in China's manufacturing sector increased by 1.9% year-on-year, further demonstrating the attractiveness of China's booming economy.
China's commitment to green development is particularly remarkable, the article says. Reducing carbon emissions and investing in clean energy is part of China's strategy to combat global climate change. The Yangtze River Delta region has a strong industrial foundation and talent pool, attracting a large amount of foreign investment, which can make further contributions to the sustainable development of China's economy.
In an interview with Xinhua News Agency, Serchuk Çolakoğlu, founding director of the Center for Asia-Pacific Studies in Turkey, said he was optimistic about China's dynamic economic growth.
It is not surprising that China's economy is outperforming other countries, according to Çolakoglu. Strong economic growth is due to active diversification and an emphasis on high-quality development. For example, China's transformation of the automotive industry and the successful development of the solar industry.
He believes that due to low production costs, high labor efficiency and efficient infrastructure, China will continue to be a hot spot for foreign investment in the future.
[Those Things in China|Issue 976]
Column producer: Wu Yanpeng
Column editor: Liu Shidong Pan Yiqiao
Column writer: Qi Lei
[Editor in charge: Qi Lei]
Column Editor-in-Chief: Qin Hong Text Editor: Lu Xiaochuan
Source: Author: China Daily