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China’s Economy Will Hopefully Maintain a Stable Growth in 2017
2017-02-23
Zhang Liqun, DRC
It is expected that China’s economy will reveal a general trend of steady rise in 2017, and the economic growth will roughly equal to that of last year.
First, in view of economic performance, real estate investment might maintain a growth rate of about 5%, capital construction investment will enjoy the highest growth among all kinds of investments, and manufacturing investment will be increasingly fueled by various factors. In terms of consumption, the prospect of a stable growth of resident income boasts great possibility. In 2017, the government will make greater efforts and take targeted measures to tackle the issues of employment and poverty alleviation. It is highly possible that export will go up at a low level and in a steady manner, and the effects resulting from the escalation of export competitiveness and the upgrading of China’s manufacturing industry is gradually phasing in. In terms of financial industry, the Central Economic Work Conference has made it clear that the government will implement a prudent and neutral monetary policy.
Second, China’s economic structural transformation still boasts huge potential. China’s industrialization, informatization, urbanization and agricultural modernization are not completed yet, and China’s economic and productive structural transformation is promising. The deepening of reform will still yield great dividend; the room is huge for further development and progress of national governance system construction and governance capacity modernization; the supply of human resources, capital, technology and other factors of production will shore up a relatively high economic growth.
Third, a solid safety net for people’s livelihood should be built based on both current and long-term consideration. China’s economy has steadily stepped into a period with mid- and high growth, featured by a stable economic growth and the transformation of development mode. Coordinated efforts need to be made to address the current issues relating to people’s livelihood and the long-term social security system construction. We need to intensify efforts to upgrade and improve the quality and efficiency of growth, push forward reform, transform economic development mode, and strive to sustain steady economic development while ensuring progress and improvement.
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