INSUBCONTINENT EXCLUSIVE:
Since the beginning of this year, the increasingly complicated international environment and weakened global economic recovery, as well as
external unfavorable factors, China's economic performance in the second quarter was less ideal than expected, which has resulted in some
In this case, I would like to share some views on China's economy and its prospects:First, China's economy managed to grow in the second
quarter despite downward pressure
In the second quarter of this year, the impacts from a new round of COVID flare-ups and other unexpected factors steeply increased the
We put stable growth higher on the agenda, held ground against a massive stimulus, worked to front-load the policies set, and introduced and
implemented a policy package for stabilizing the economy
The effects emerged immediately
In May, the decline in major economic indicators slowed.In June, the economy stabilized and rebounded
Major indicators picked up fairly fast and returned to the positive territory
As a result, the economy registered a positive growth in the second quarter
The gross domestic product (GDP) of China in the first half year was 56,264.2 billion yuan, up by 2.5% year on year at constant prices
In terms of specific economic indicators, industrial production was steadily recovered and the total value added of industrial enterprises
above designated size grew by 3.9% year on year in June which is 3.2% higher than in May
The service industry production index also increased from -5.1% to 1.3%
The total retail sales of consumer goods bounced back from -6.7% to 3.1% in June demonstrating market sales improvement and fast growth in
retail sales of goods for basic living.Exports went up by 22% which is 6.7% higher than the previous month
By ensuring supply and price stability in the market, focusing on grain and energy production, and overcoming the impacts of imported
gradually and maintain steady growth
The risk of stagflation in the global economy is on the rise these days, thus raising the concerns of instability and uncertainty in China's
However, China's economy has strong resilience and great potentials and the fundamentals sustaining China's long-term economic growth
With the implementation of a series of policies and measures to stabilize growth, China's economic performance is expected to gradually
First, a major economy like China always has enormous resilience.We should be aware of the considerably large scale of China's economy and
its advantages for having a solid material foundation and a huge domestic market
Second, the potentials of demand recovery are significant
Chinese government is determined to stabilize investment, accelerate the issuance and use of special-purpose bonds, speed up major projects
construction, and encourage infrastructure investment
We expect to see further consumption recovery as the offline consumer services are reviving and the government policies to boost consumption
In May, China's total import and export volume increased by 9.5% year-on-year, 9.4% higher than the previous month; and 14.3% in June,
4.8% higher than that in May
Third, there is a concrete foundation for production to rebound
Following the steady recovery of production, the industrial and supply chains have been gradually smoothed, and the promoting effects of key
industries such as automobiles and electronics will further strengthen
And the service industry turned from a decline to an increase in June as the pandemic situation improved.In addition, the promising recovery
of transportation industry will also be of great help for the further production boost
Fourth, innovation will provide new momentum for economic growth
Under the pandemic, traditional industries have accelerated their transition and expansion towards digitization and intelligentization,
meanwhile new industries continue to develop steadily and rapidly
The positive effects of policies such as large-scale tax refunds, issuance and use of special-purpose bonds, and increased financial support
China cannot develop in isolation from the world, and the world also needs China for its development
Affected by factors such as the COVID-19 pandemic and the Ukraine crisis, the global industrial chain, and supply chain are disturbed
As a result, many countries are stuck in multiple crises in terms of food and energy
Rising prices have forced major economies to tighten their economic policies, and pushed the world economy into a substantial risk of
China, as the largest developing country in the world, has profound developmental potentials and can certainly provide a strong impetus for
the global economic recovery.China will deepen high-level opening-up, stay committed to free trade and fair trade, and help keep the two
wheels of multilateral and regional trade cooperation running in parallel
Continued efforts will be made to foster a market-oriented, world-class business environment governed by a sound legal framework, and ensure
China is ready to strengthen international cooperation against COVID-19 and willing to make its COVID control measures more targeted and
well-calibrated under the premise of ensuring safety against the pandemic
We will steadily optimize the visa issuance and COVID testing policies and keep resuming and increasing international passenger flights in
an orderly manner, and prudently advance overseas commerce and cross-border travel for labor services, so as to better promote personnel
In the second half of this year, China will hold a number of exhibitions like the 7th China-Eurasia Expo, the 22nd China International Fair
of Investment and Trade, the 132nd Canton Fair, and the 5th China International Import Expo which are great chances for Iranian merchants to
China will actively implement the Global Development Initiative and all countries around the world, including Iran, are welcome to benefit
from China's economic development, promote high-quality Belt and Road cooperation through greater openness and cooperation in trade,
investment and other fields
