China’s economy has generally posted a trend of recovery and growth so far this year despite some monthly fluctuations, an official said on Monday (17).
Mr. Zhao Chenxin, deputy director of the National Development and Reform Commission, made the remark at a press conference on the sidelines of the ongoing 20th National Congress of the Communist Party of China.
“Since the start of this year, despite some monthly fluctuations, the Chinese economy has maintained the momentum of recovery and growth. But with solid steps in coordinating the COVID-19 response and economic and social development and with the implementation of the policy package for stabilizing the economy and with the introduction of follow-up policies, the main economic indicators including manufacturing, services, investment and consumption continue to recover. On the whole, the Chinese economy has maintained a momentum of recovery. As far as we know, the economy has clearly rallied in the third quarter,” Zhao said.
“Globally, the Chinese economy continues to excel. China’s CPI has risen moderately, which you can see what the consumer prices are like and this stands in stark contrast to the surging inflation in other parts of the world. The job market is basically stable. China’s international balance of payment enjoys a basic equilibrium and its foreign exchange reserves have stayed at above three trillion dollars. Taken together, all these economic indicators show that China still enjoys a sound economic performance,” he said.
(Kelum Shivantha – reporting from Beijing)
