According to economic statistics for the first seven months of the current year, released on Wednesday by China's Central Bureau of Statistics, China's economy is still developing appropriately. A development trend with holistic stability and steady progress has been maintained. In the context of continuing trade disputes with the US and the escalation of external destabilizing factors, the Chinese economy has demonstrated the country's serenity and confidence with its consistency.
This is not easy given the more critical external environment. International institutions such as the IMF and the World Bank have downplayed the outlook for global economic growth with the provocation and escalation of trade disputes. Accordingly, the Chinese government has pursued a proactive fiscal policy and sound monetary policy and has made a number of counter-cyclical adjustments. Extensive tax reductions and reductions have made huge profits. All this forms the basis and confidence of the Chinese economy.
China's foreign trade volume, for example, rose 4.2 percent in the first seven months of the year. This shows that measures for multilateral trade and trade facilitation are starting to take effect. Therefore, the impact of trade disputes between China and the US on the People's Republic is still within the control. In the first seven months, real foreign investment increased by 7.3 percent compared to the same period last year. Of these, real-time increases in foreign investment in the high-tech sector are as high as 43.1 percent. This proves that China is still a popular destination for foreign investment due to the constant improvement of the business environment and the strengthening of intellectual property protection.
Currently, China's economic growth still holds the leading position among the world's largest economies. It is still considered a powerful engine of global economic growth. Although some people have repeatedly deliberately predicted the decline of the Chinese economy, actual Chinese economic statistics have repeatedly degraded these forecasts with rumors and jokes. Fortune Business Magazine recently published the latest rankings of the world's top 500 companies, with the number of Chinese companies in the list exceeding US companies for the first time at 129. Chinese companies become more competitive in the international market More than 200 Chinese companies connoisseurs' stated in a joint letter, the US, despite its rejection of Chinese growth and its views, cannot do so by China's share of the international market and China's increasing role in international affairs.
No matter how the external environment changes, China will resolve its own affairs decisively. Continued deepening of reforms and broadening of openness will further improve the sustainability of economic development. China's economy will grow despite wind and rain and make a common profit with the world.
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