China's economy has reason to remain optimistic in

2022-08-09
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Hong Kong News: China's economy has reason to remain optimistic in 2012

Hong Kong News: China's economy has reason to remain optimistic in 2012

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Guide: [Hong Kong "South China Morning Post" article on January 2] title: 2012 should still be optimistic for reasons like people in other parts of the world, and the local people happily sent off 2011 without vibration. However, at first glance, the coming year is even more unpredictable, although the auspicious year of the dragon will be coming later this month

[Hong Kong's South China Morning Post article on January 2] title: reasons for optimism in 2012

like people in other parts of the world, mainlanders cheerfully rang the bell to send off 2011. However, at first glance, the coming year is even more unpredictable, although the auspicious year of the dragon is coming later this month

in terms of economy, the slowdown of economic growth and the decline of real estate prices have caused deep concerns at home and abroad about the possibility of a hard landing of China's economy. This situation will have a disastrous impact on the global economy, which has been dragged down by the deteriorating economic situation in Europe and the United States

however, we still have good reasons to remain optimistic. Although the concern about the mainland's economic outlook is reasonable, the concern about the hard landing of the economy and even worse is somewhat excessive

the double-digit growth of more than 30 years has made the economic scale of the mainland rank second in the world. This material has higher impact strength and can withstand high thermal deformation temperature under load. In the future, the mainland's economic growth rate will remain at 8-9%. Most economists expect the economic growth rate to be about 8% this year, and many people regard this slowdown as a worrying factor

in fact, slowing growth is good for China and the world, because it will reduce the pressure on the environment and energy. More importantly, this will provide a great opportunity for the economic rebalancing, which will be more consumption based and get rid of traditional drivers such as exports and government spending. This explains to some extent why the government will continue to strictly regulate real estate prices

according to some estimates, the consumption expenditure in the mainland is only slightly more than one-third of the gross domestic product (GDP), about half the level of consumption expenditure in the United States, indicating that there is still much room for expansion

for a long time, there has been a view that it is difficult for the mainland to stimulate consumer spending as the main driving force of growth, because the mainland people are deeply worried about the imperfect social security network and expensive education and medical care, and are unwilling to consume

however, if you have seen the situation of Hong Kong and London shopping malls during the holiday this year, this view is not so convincing. People saw mainlanders crowded in front of the counters of shopping malls and lined up outside the fashion stores, snapping up luxury goods, jewelry and cosmetics without blinking

this is a powerful proof of the consumption power of mainlanders, and it should also play a timely role in reminding the leadership to reflect on why people are unwilling to spend money at home

In addition, the central government can further reduce individual income tax and corporate tax and value-added tax levied on enterprises. The central government can certainly afford to do so, because the fiscal revenue in 2011 is expected to reach a record 10 trillion yuan

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