Officials voice confidence in China’s economy, urge cooperation

BEIJING, November 22, 2022 /PRNewswire/ — When the world economy is reeling from the pandemic and geopolitical tensions, even showing signs of recession, China has stabilized its economy with a package of measures, officials and experts said Monday at the 2022 Financial Street Forum, calling for cooperation and risk perception.

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of China Fu Linghui, a spokesman for the National Bureau of Statistics, said at the forum, the economy still recovered this year, despite the pressure, showing solid momentum for long-term development.

Despite facing complex, harsh international circumstances and other unexpected difficulties, of China Fu said the economy has shown considerable resilience and vitality.

Reviewing this year, Fu said that China implemented a package of policies aimed at stabilizing the economy, turning the second-quarter slump into a third-quarter recovery.

Meanwhile, Fu emphasized that China has actively expanded open high-level.

As the world faces growing recession risks, China committed to establishing a new system for a higher level of open economy, including promoting trade and ensuring port services, he said.

Despite this year’s rebound, officials also warn of financial risks stemming from mounting debt and high inflation.

It has become an important task for of China financial regulator to combat major financial risks and maintain stability in the sector, said Xuan Changneng, deputy governor of the People’s Bank of China China (PBOC), said at the forum.

After the 2008 financial crisis, the global community reached a consensus on strengthening the prudent macro-management system to avoid spillover financial risks, Xuan said and noted. China There has been a lot of progress in the field of management with related policies introduced in the past few years.

Look to the future, China Faced with both opportunities and challenges Wang Weidongvice president of China Development Bank (CDB), the nation’s largest policy lender.

The global recession could lead to weaker demand while consumption cools and investment returns can also be seen domestically, he said.

However, China Wang said there is sufficient capacity to develop and upgrade the industry, and concluded that the fundamentals for long-term positive development remain unchanged.

He said CDB will continue its efforts to serve the real economy, including stabilizing credit growth and providing more support to key sectors, such as manufacturing, technology, innovation, entrepreneurship. small and micro and green industry.

“Development and cooperation are ‘keys’ to solving global problems, which can help countries meet challenges and overcome difficulties,” Peng XuanChairman and CEO of China Investment Corporation, said at the forum.

China Peng said that building a dual circulation model with openness is a new development model, which will further support a more flexible global supply chain and share new opportunities with the world.

https://news.cgtn.com/news/2022-11-22/Official-voice-trust-in-China-s-economy-urge-cooperation–1fat2WiPb2g/index.html

SOURCE CGTN

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