SCIO briefing on China's economic growth in the first three quarters of 2020
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E-mail China.org.cn, October 20, 2020
South China Morning Post：
I want to add a question about the outlook for economic growth. The International Monetary Fund (IMF) forecasts that China's economy will grow by 1.9% this year, while other market institutions predict growth of between 2.5% and 3%. I wonder if the National Bureau of Statistics has any forecast for the specific growth rate this year. Is it necessary to reach a level of around 3% to achieve the employment and livelihood targets set in the government work report, and to get close to the goal of doubling GDP set previously? Thank you.
Liu Aihua:
Thank you for your question. Your focus is still on the future economic trends. The IMF's latest growth forecast for China reflects the confidence of the outside world, especially international organizations, in China's economic growth. From the perspective of what I have just described, both the demand and production sides are in the process of recovery to varying degrees, which is reflected in the overall economy. Currently, the trend of a sustained and stable recovery of the economy as a whole is relatively clear. In the fourth quarter, in terms of the external environment of economic growth, there are still uncertainties about the development of the epidemic and its impact on the world economy and trade. Internally, the economy is still in the process of recovery. Most of the indicators have not yet returned to the normal levels, and some of the cumulative growth rates have also declined. Generally speaking, on the one hand, we have the foundation and conditions for the recovery, and the fundamentals for stable growth of the Chinese economy as a whole remain unchanged, but on the other hand, we should also recognize the uncertainties in the domestic and international environments. We must further abide by the decisions and arrangements made by the CPC Central Committee, make solid efforts to stabilize employment, finance, foreign trade, foreign investment, domestic investment, and market expectations. We must comprehensively safeguard residential employment, people's livelihoods, market entities, food and energy security, the stability of industrial and supply chains and operations at grassroots levels in order to fulfil the whole-year targets for economic and social development. Thank you.
Shou Xiaoli:
Thank you, Ms. Liu and our media friends. That's all for today's press conference. Goodbye.
Translated and edited by Chen Chao, Wang Qian, Zhang Rui, Zhang Liying, Zhu Bochen, Duan Yaying, Yuan Fang, Xiang Bin, Fan Junmei, Huang Shan, Gong Yingchun, Wu Jin, Xu Xiaoxuan, Wang Zhiyong, Zhou Jing, Zhang Junmian, Wang Yiming, Geoffrey Murray, David Ball, Laura Zheng, and Jay Birbeck. In case of any dispute over a perceived discrepancy, the Chinese version is deemed to prevail.
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