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Chinese economy resilient enough to withstand external headwinds [Copy link] 中文

Rank: 8Rank: 8

Post time 2019-10-21 09:39:54 |Display all floors
(Xinhua) The Chinese economy slowed down in the third quarter, but it is no cause for panic.

Although the country's gross domestic product (GDP) growth cooled down to 6 percent in the third quarter, the figures should be read with calmness and composure.

Amid trade tensions and the country's transition from a phase of rapid economic growth to high-quality development, it was a good result and in line with the basic law of economic development.

Naysayers have got used to judging the Chinese economy by speed, but that is too old-fashioned. Smart observers look at the Chinese economy through indicators of quality.

The country's economic structure was improved in the first three quarters. Consumption continued to be the mainstay in driving up demand, contributing 60.5 percent of the economic growth in the period.

The output of the service sector, which accounted for 54 percent of the total GDP, rose 7 percent in that period, contributing 60.6 percent of the country's GDP growth.

Meanwhile, a series of policy measures to stabilize employment has been taken. In the first nine months, 10.97 million new jobs were created in cities and towns across the country, which means 99.7 percent of the target for the whole year has been met.

Also, in the first three quarters, more than 100 foreign enterprises were born in China every day, and about 2.5 billion yuan (354 million U.S. dollars) of foreign investment flowed into China daily. Amid the downturn in global transnational investment, foreign investors have cast a vote of confidence in the Chinese market.

What is equally impressive is that the policy of cutting taxes and fees has been constantly implemented. In the first eight months, more than 1.5 trillion yuan of taxes and fees were reduced. It is estimated that the total annual figure will exceed 2 trillion yuan.

The more external uncertainty exists, the more efforts should be made to cultivate internal certainty. The implementation of a series of measures to deepen reform and open wider to the outside world is a powerful guarantee for the constant accumulation of certainty.

China's economy has the resilience, the potential and the momentum to flourish. If China does its own thing well, it can turn pressure into impetus and move steadily and vigorously toward high-quality development.

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Rank: 6Rank: 6

Post time 2019-10-21 16:44:19 |Display all floors
"The more external uncertainty exists, the more efforts should be made to cultivate internal certainty. The implementation of a series of measures to deepen reform and open wider to the outside world is a powerful guarantee for the constant accumulation of certainty."

This is a contradiction: if there is "external uncertainty" then there would be no guarantees that opening China more to the outside would enhance certainty.

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Post time 2019-10-22 13:22:06 |Display all floors
Newtown Post time: 2019-10-21 16:44
"The more external uncertainty exists, the more efforts should be made to cultivate internal certain ...

You're full of nonsense...

    The Motherland did open up and uncle Sam is closing down...

      You're very much aware of it, but fooled by your Msster

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Rank: 4

Post time 2019-10-22 14:52:31 |Display all floors
The economy of China is stable and strong. These temporary external shocks have insignificant effect on China's trillion dollars economy. Main reason being the economic policies of the Government that promote regional and international investment at all levels of the economy. Main indicators of growth and development are also on the rise with measures to promote healthy environment for business and  economic activities in the country.

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Post time 2019-10-23 04:33:47 |Display all floors
emanreus Post time: 2019-10-22 13:22
You're full of nonsense...

    The Motherland did open up and uncle Sam is closing down...

No country can grow for ever.  The nature of civilization is to rise and fall in a cyclical pattern.  If you look at West, you first had Minoan society, then they fall.  Then you have Mycenaean, then they fall.  You then have Classical Greece, then they fall.  You then have Roman Empire, then they fall.  You then have Charlemagne's Empire, then they fall.  You then have British Empire.  Then they fall.  You then have American Empire, and they are currently falling.  And China too will fall.  Then they will once again reform a new culture in the future in several hundred years.  This is how human evolution works.  You should read the book "At Our Wits' End" by Michael Woodley of menie.   

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Rank: 6Rank: 6

Post time 2019-10-23 07:56:50 |Display all floors
emanreus Post time: 2019-10-22 13:22
You're full of nonsense...

    The Motherland did open up and uncle Sam is closing down...

"If China does its own thing well" Thus, China can look after itself and not worry about the rest of the world. USA can do likewise and not worry about China. Win-win !

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