10 experts interpret China’s w88 casino games “semi-annual report”: performance exceeds expectations and development resilience
(Source: People's Daily Online-Financial Channel 2020 07month17日)
It’s the critical time of the year again. On July 16, the National Bureau of Statistics released the performance of the national economy in the first half of 2020. The world economy is undergoing profound changes under the impact of the COVID-19 epidemic. Under the complex and severe domestic and international situations, how China's economy responds to the "half-year test" has attracted global attention.
The GDP fell by 1.6% year-on-year in the first half of the year and increased by 3.2% in the second quarter. The national online retail sales increased by 7.3% year-on-year. The employment indicator exceeded 60%, and the summer grain harvest was another bumper... Looking at the "big data" of my country's economy, our country's economy first fell and then rose in the first half of the year. The w88 casino games operation has recovered steadily. In the second quarter, w88 casino games growth has turned from negative to positive. Market expectations are generally improving. It is not easy to achieve good results and bright prospects.
What are the highlights of the national economy in the first half of the year, what policies and measures have effectively stabilized the basic market, and what kind of trend will the Chinese economy show in the second half of the year? In this regard, People's Daily Online Finance conducted a special interview with 10 authoritative experts and scholars to conduct an in-depth interpretation of China's w88 casino games "semi-annual report".
From negative to positive China EconomyThe results of the "half-year exam" exceeded expectations
Data released by the National Bureau of Statistics shows that according to preliminary calculations, the GDP in the first half of the year was 45,661.4 billion yuan. Looking at the quarters, the first quarter dropped by 6.8% year-on-year, and the second quarter increased by 3.2%. Many experts and scholars said in interviews with People's Daily Finance that "turning from negative to positive" has become the key word for the performance of the national economy in the first half of the year.
Zeng Gang, deputy director of the National Finance and Development Laboratory, said that the turn from negative to positive GDP shows that while the epidemic prevention and control situation continues to improve, various policies to support the resumption of work and production have achieved remarkable results. Although this year’s government work report did not specify this year’s w88 casino games growth target, w88 casino games growth itself plays an important supporting role in driving employment and achieving the “six guarantees”.
In the first half of the year, 5.64 million people were newly employed in cities and towns across the country, completing 62.7% of the full-year target. In June, the national urban surveyed unemployment rate fell by 0.2% month-on-month; in the first half of the year, the CPI rose by 3.8% year-on-year, 1.1 percentage points lower than the first quarter. In June, it ranked first Consumer prices increased by 2.5%, which is within the moderate growth range; in the first half of the year, the total import and export of goods was 14,237.9 billion yuan. In June, import and export increased by 5.1% year-on-year, and exports achieved positive growth for three consecutive months... Comprehensive employment, prices, import and export and other indicators can be seen that China's w88 casino games operation is recovering steadily.
"While the total volume is recovering, there are also some bright spots in terms of structure, especially the narrowing of the decline in the service industry and the decline in total retail sales of consumer goods, which deserves attention." Zeng Gang said that the service industry not only occupies a pivotal position in GDP, but is also the most important area for absorbing employment. Promoting the development of the service industry is the top priority to achieve the "six guarantees". From the perspective of consumption, the development pattern of domestic circulation as the mainstay and domestic and international circulation reinforcing each other also requires consumption to play an increasing role in supporting domestic demand.
At the same time, industrial production data also performed well. In the second quarter, the added value of the national industrial enterprises above designated size increased by 4.4% year-on-year. In June, the added value of industrial enterprises above designated size increased by 4.8% year-on-year. The growth rate was 0.4 percentage points faster than that in May, achieving three consecutive months of growth.
Xu Qiyuan, a researcher at the Chinese Academy of Social Sciences, believes that against the backdrop of the impact of the epidemic and the global w88 casino games recession, the growth rate of industrial production in the second quarter was still significantly higher than expected. This data is also confirmed by data such as electricity consumption and coal consumption of industrial enterprises, as well as the rapid recovery of bulk commodity imports.
From an investment perspective, fixed asset investment grew by -3.1% in the first half of the year, of which infrastructure investment and real estate investment recovered quickly. Infrastructure investment grew by -2.7% in the first half of the year, and real estate +1.9%, which was better than the manufacturing industry -11.7%. In particular, real estate investment is already experiencing positive growth, and construction machinery and excavators related to infrastructure and real estate investment are growing faster.
Teng Tai, president of Wanbo New w88 casino games Research Institute, believes that it can be seen from the data that investment in high-tech manufacturing and service industries has grown rapidly. Although private investment still recorded negative growth in the first half of the year, the growth rate in the second quarter narrowed by 11.5% compared with the first quarter, which was an improvement compared to the previous quarter.
From the perspective of new w88 casino games and new driving forces, national online retail sales in the first half of the year were 5.1501 billion yuan, a year-on-year increase of 7.3%. Zhu Keli, executive director of the Guoyan New w88 casino games Research Institute, believes that the continued development of the digital economy and network economy is becoming the largest contributor to new growth momentum. This reflects that the effects of stabilizing growth policies are gradually emerging, which is expected to push China's economy to a higher level in the second half of the year.
“It should be noted that the spring can only bounce back to its original level and cannot jump higher.” Liu Shangxi, president of the Chinese Academy of Fiscal Sciences, pointed out that a rebound cannot simply be considered an inevitable trend. To continue the rebound, the problem of insufficient stamina needs to be solved and the internal driving force of the Chinese economy needs to be created. This requires injecting momentum into the corporate market's own recovery on the basis of policy support as soon as possible.
Remarkable results Policy efforts to stabilize the w88 casino games fundamentals
In the second quarter, China's GDP grew by 3.2% year-on-year. Experts agreed in interviews that this was due to China's effective coordination of epidemic prevention and control and active use of policy tools to stimulate new impetus for w88 casino games development to "stop losses and recover blood" and return the economy to a stable and positive track.
“Successful prevention and control of the epidemic is the biggest prerequisite for ensuring w88 casino games stability.” Teng Tai said that in the process of epidemic prevention and control, China emphasized precise prevention and control, scientific prevention and control, and hierarchical and zoning prevention and control, which effectively reduced the impact of the epidemic. In addition, after the epidemic was brought under control, all efforts were made to promote and promote the resumption of production and work. Therefore, the supply side of China's economy took the lead in recovering in the first half of the year, and the resumption of production and work rate in the manufacturing industry basically returned to the level before the epidemic.
In the view of Tang Jiqiang, a professor at Southwestern University of Finance and Economics, my country's measures to ensure w88 casino games stabilization and recovery in response to the epidemic in the first half of the year can be divided into two stages. The first stage is the severe period of the epidemic, that is, in the first quarter of this year, our country seizes opportunities from two aspects: time compensation and space compensation, laying a solid foundation for w88 casino games stabilization, recovery and sustainable development. The second stage is the period of epidemic relief, that is, in the second quarter of this year, the country will start from three aspects: inclusiveness, marketability, and openness to ensure that the economy stabilizes and recovers.
Liu Shangxi pointed out that in the first half of the year, under the premise that the epidemic was under timely and effective control, the intensive introduction of relevant w88 casino games and social policies injected certainty into the w88 casino games recovery and played a decisive role in stabilizing market confidence and social expectations. In particular, the timely promulgation of the "six guarantees" policy has served as an operational guide to focus various policies and promote the formation of policy synergies, thereby effectively hedging the major impact of the epidemic.
In terms of fiscal policy, the first is the support of fiscal funds. This year, 2 trillion yuan (national debt and deficit release) funds are proposed to directly support local development; the second is tax reduction and burden reduction for enterprises, especially various support policies for small and micro enterprises, which effectively help market players overcome difficulties; third, the government increases investment expenditure, including cooperation between the government and social capital to increase investment and jointly stabilize and develop the economy.
In terms of monetary policy, it is not only reflected in the reduction of reserve requirements and interest rates, but also inclusive structural financial policies, re-discount and re-loan support, increased financial support for small, medium and micro enterprises, etc., to maintain reasonable and sufficient market liquidity.
Lian Ping, chief economist of Zhixin Investment and president of the research institute, believes that the above measures have timely and effectively supported China’s w88 casino games recovery and helped private enterprises and small and micro enterprises better cope with w88 casino games downward pressure and external uncertainties. At the same time, while increasing efforts, in order to ensure the accuracy and effectiveness of policies, relevant departments continue to clear policy transmission channels.
In addition to making good use of the "policy toolbox", new w88 casino games and new driving forces also play an important role in responding to the impact of the new crown epidemic and w88 casino games recovery. During the COVID-19 pandemic, online consumption has boomed due to travel restrictions. New consumption formats related to the Internet are performing strongly, the application of the Internet is becoming more and more widespread, and new consumption models represented by online shopping and sharing platforms are developing rapidly.
Xu Xianchun, former deputy director of the National Bureau of Statistics and director of the China w88 casino games and Social Data Research Center at Tsinghua University, pointed out that as the new crown epidemic prevention and control becomes normalized and people’s awareness of epidemic prevention and control increases, new consumption patterns will be accepted by more and more people, which may release huge w88 casino games growth momentum. We should take advantage of the opportunities brought by the COVID-19 epidemic to cultivate and expand new consumption models.
In this year’s government work report, the “two new and one heavy” construction was regarded as an important measure to implement the strategy of expanding domestic demand and accelerate the transformation of the w88 casino games development model. "With the COVID-19 epidemic leading to a decline in traditional investment demand, it is of great significance and necessity to regard new infrastructure investment as the future direction of infrastructure construction. Against the background of epidemic prevention and control, it provides a strong starting point for investment and plays an important role in stimulating w88 casino games growth." Xu Xianchun said.
Full resilience The basic long-term positive trend has not changed
As the third quarter begins, facing the uncertainty caused by the global epidemic and the slowdown in global w88 casino games growth, how to answer the "second half" examination paper of China's economy in 2020? Experts believed in interviews that the long-term positive trend of China's economy has not changed. In the face of a complex environment, to maintain the determination of w88 casino games development, it is necessary to maintain the strategic focus of deepening reforms, break down institutional barriers, and stimulate endogenous development momentum.
Xu Hongcai, deputy director of the w88 casino games Policy Research Society of the China Policy Science Research Society, said that as China’s economy enters the “second half” of 2020, it must rely on reforms to stimulate the vitality of market entities, promote the reform of market-oriented allocation of factors, optimize the development environment of the private economy, promote the upgrading of manufacturing and the development of emerging industries, and inject new momentum into w88 casino games development.
"Tax reductions and fee reductions and special bond issuance must still increase efforts to drive investment and stimulate consumption." Tang Jiqiang believes that under normalized epidemic prevention and control, w88 casino games development must rely on policy intensification to maintain stability, adhere to and fully implement proactive fiscal policies, prudent monetary policies, and employment priority policies, and provide benefits to enterprises through larger-scale tax reductions and fee reductions, and strive to ensure employment and people's livelihood and market players.
“On the one hand, we support the real economy, especially small and medium-sized enterprises, through innovative monetary policy tools; on the other hand, we reduce the re-lending and rediscount rates as well as the interest rates on tools such as MLF and LPR to further reduce the financing interest rates of the real economy.” In Lian Ping’s view, monetary policy in the second half of the year may focus more on “focusing on structure + reducing prices.”
At the same time, in the face of the global epidemic and the slowdown in global w88 casino games growth and the uncertainty caused by it, experts generally believe that the "second half" of China's economy in 2020 should focus on smoothing the w88 casino games cycle and accelerate the formation of a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles reinforcing each other.
Open up the domestic circulation, increase domestic demand and enhance w88 casino games immunity. Zhu Keli put forward three suggestions: first, focus on the construction of "two new and one important", namely new infrastructure construction, new urbanization construction and major construction projects such as transportation and water conservancy; second, promote consumption and activate the huge domestic demand market; third, maintain employment, encourage the development of new individual economy, multi-site practice and "micro economy" and "home economy", and innovate employment forms.
“During the epidemic, the online economy bucked the trend and rose. In the second half of the year, we must increase investment in new infrastructure, vigorously develop the industrial Internet, spawn more new business formats and new models, and create more new growth points for w88 casino games development.”Zhuang Rui, Deputy Dean of the Institute of International Economics, w88 casinosaid in an interview that in the second half of the year, in order to promote the recovery of cross-border investment as soon as possible and stabilize the global industrial and supply chains, my country is implementing a wider, wider and deeper comprehensive opening up, and promoting high-quality w88 casino games development with a high level of openness.
Looking forward to the w88 casino games trend in the second half of the year, Liu Shangxi pointed out that taking into account the long-term factors of the decline in potential growth rate and the short-term factors of the impact of the epidemic as well as international factors, China's economy may show a stable development trend in the second half of the year. We must maintain a cautious and optimistic attitude, accelerate market-oriented reforms based on the rule of law and internationalization, smooth the supply and demand cycle, and promote high-level opening up through reform.
1.4 billion people, 900 million labor force, 170 million highly educated and skilled human resources, the world's largest middle-income group, more than 100 million market entities... Facts have and will continue to prove that no matter how the external situation changes, China's w88 casino games development remains resilient and has huge potential, and the long-term positive development trend is unstoppable.
Original link:http://finance.people.com.cn/n1/2020/0717/c1004-31786889.html
