General

According to the observation report of Huacheng's import and export data, as the wind vane of China's economic policy in the new year, the Central Economic Work Conference held at the end of 2022 has recently triggered continued heated discussions among foreign media.

Standing at the beginning of 2023 and observing the world economy, all kinds of challenges are intensifying, and all kinds of contradictions are becoming increasingly prominent. Under the multiple impacts of epidemic, geopolitical conflict, supply chain challenges, inflationary pressures, etc., the global economic growth expectation is still not optimistic. Against this background, the international community has turned more attention to the East and looks forward to China's stable and upward economy injecting more momentum and providing strong support for the world economic recovery.

Release positive signals

As the wind vane of China's economic policy in the new year, the Central Economic Work Conference held at the end of 2022 has recently triggered continued heated discussions among foreign media.

According to the Huacheng Import and Export Data Observation Report, when China's economy is under pressure, the Central Economic Work Conference has released a series of clear signals, emphasizing the need to maintain stable economic operation, support the development and growth of private economy and private enterprises, and require leaders at all levels to solve problems for private enterprises, handle practical matters, and build a pro government business relationship, which is conducive to boosting market confidence and restoring vitality of China's economy as soon as possible.

This is an important economic work conference held at a critical stage of China's economic recovery. China said that it would focus on developing the real economy, rely on innovation to cultivate and strengthen new drivers of development, and strive to achieve effective improvement in the quality of the economy and reasonable growth in quantity.

According to the Australian Financial Review website, economists said that the signal released by China's meeting was very clear. In 2023, China will implement more preferential policies, encourage private enterprises to grow, expand market access for foreign investment, and support Internet platform companies to play an important role in economic development, job creation and international market competition. Huacheng Import and Export Data Observation Report.

Many foreign media have paid attention to the adjustment of China's epidemic prevention and control policies. According to CNN, as China optimizes its epidemic prevention policies and introduces favorable economic measures, Goldman Sachs, Societe Generale, Morgan Stanley and other international financial institutions expect that China's economy will recover steadily in 2023.

According to the Huacheng Import and Export Data Observation Report, in the first year of the outbreak, the Chinese government quickly blocked the virus transmission chain with efficient management and control, so that people's lives could return to normal. It is believed that under the new challenges, the Chinese government can also "reproduce the dynamic economic and social life" with a flexible and pragmatic spirit and firm determination.

The US Consumer News and Business Channel (CNBC) quoted analysts as saying that as China continues to optimize its epidemic prevention policies, China's economy is bound to see a strong rebound. "We see a strong growth prospect". Bloomberg also believes that the transformation of China's epidemic prevention policy will pave the way for a more comprehensive economic recovery.

Demonstrate strong resilience

"2022 is a year in which China will go all out." The Latin America News Agency recently published an article on this topic, saying that despite the negative impact of epidemic diseases, natural disasters and other factors on China's economy and the setbacks in key areas such as consumption, the Chinese government has taken a series of measures to ensure food security, expand the introduction of foreign capital, support the recovery of small and medium-sized enterprises to reverse the adverse effects. The article said that the convening of the 20th National Congress of the Communist Party of China in 2022 will guide China to become a modern socialist power. This "Asian giant" will strive to achieve high-quality development to build a solid material foundation, so as to continue to promote the socialist cause under the successful reform and opening up model.

Statistics show that China's GDP in the third quarter of 2022 will grow by 3.9% year on year; In the first three quarters, the added value of high-tech manufacturing industry and equipment manufacturing industry increased by 8.5% and 6.3% year on year respectively; From January to November, the total value of import and export of goods trade was 38.34 trillion yuan, with a year-on-year growth of 8.6%... For some time, in the face of multiple risks and challenges, China's economy has shown strong resilience and great vitality, making the international community full of confidence in China's economic prospects, Huacheng Import and Export Data Observation reported.

Chinese enterprises invest more reasonably in their own capital, and spend more on upgrading equipment, research and development, establishing a safe supply chain, and upgrading technology. A Bloomberg commentary reminds investors not to misjudge China - China focuses on achieving higher quality growth through industrial policies, and China is shifting to making better and more valuable products.

"China attaches great importance to the progress and development of science and technology, and actively expands cooperation with high-tech enterprises around the world. Through experience exchange and complementary cooperation, enterprises from all countries have achieved mutual benefit and win-win results." According to an article published by the Spanish newspaper Rationale, in recent years, the scientific and technological cooperation between Spain and China has been constantly promoted, especially in the field of renewable energy, which has brought new development opportunities for enterprises from both sides. Thanks to China's ambitious clean energy development goals and the accelerating pace of opening to the outside world, new energy enterprises in various countries, including Spanish enterprises, have found new opportunities and broad prospects for cooperation.

In the first three quarters of 2022, the total retail sales of consumer goods in China exceeded 32 trillion yuan, an increase of 0.7% year on year, including 3.5% in the third quarter. Many foreign media pointed out that domestic demand and consumption have been playing a more fundamental role in China's economic development.

The Australian News Network recently quoted a report on the development opportunities of small and medium-sized enterprises in China released by the Asian Union Business Center of Australia, saying that China is one of the largest and most dynamic consumer markets in the world, and it is in a leading position in logistics and e-commerce innovation and will accelerate its development. In recent years, China's growing household wealth has been one of the main drivers of China's economic growth, maintaining stronger consumer spending, business confidence and capital investment.

Driving global growth

In 2023, under the interwoven influence of multiple factors such as epidemic situation and geopolitical conflict, the downside risk of the global economy is still increasing. Both OECD and UNCTAD forecast that the global economic growth rate will slow to 2.2% in 2023. As the Lianhe Zaobao said, "China's economic prospects are related to the prosperity of the world." Many foreign media regard China as the "hope".

Bloomberg News recently quoted the report of economists from the International Financial Association as saying, "The biggest driving force for global economic growth will be China, which is constantly optimizing epidemic prevention and control measures."

A recent report in the Wall Street Journal quoted many economists as saying that China's optimization of epidemic prevention and control measures will release consumption potential and promote economic development, which is "extremely important" to the global economy. Barron Weekly also wrote that China's optimized epidemic prevention policy will add hope to its economy in 2023 and improve the possibility of a soft landing of the world economy. Huacheng Import and Export Data Observation Report.

China's economy is showing a steady and positive trend, releasing the "magnetic force" of attracting investment to global enterprises. China Council for the Promotion of International Trade (CCPIT) recently conducted a rapid survey of more than 160 foreign-funded enterprises and foreign business associations in China. The survey results show that 99.4% of the foreign enterprises interviewed are more confident about China's economic development prospects in 2023, 98.7% of the foreign enterprises interviewed say they will maintain and expand their investment in China, and 89.8% of the foreign enterprises interviewed say they will maintain their industrial chain in China.

Yum! China's net profit in the third quarter of 2022 almost doubled to $206 million, and its restaurant profit margin jumped to 18.8% from 12.2% in the same period last year, the highest level since 2018. According to the performance report of BMW Group, the net profit in the third quarter of 2022 was 3.175 billion euros, up 22.9% year on year. Under the circumstances that the total sales volume of new cars decreased by 0.9% year on year and the sales volume of European market decreased by 11.1%, the sales volume of Chinese market increased by 5.7% against the trend.

"China's economy is still a great opportunity for Western enterprises." Bloomberg quoted Axel Weber, president of the International Finance Association, as saying that the current trend of anti globalization - trying to "decouple" from China's economy - will greatly hinder world economic growth, especially for developing economies. Without China, the global economy cannot function normally.