On the morning of October 18, in the briefing hall of The State Council Information Office located on the West Chang 'an Avenue in Beijing, Chinese and foreign media reporters lined up early to receive fresh Chinese economic data materials. The world is eager to read new developments in its second-largest economy.

In the first three quarters of this year, China's economy grew by 4.8% year on year, with overall stability and steady progress. However, growth in the second and third quarters fluctuated slightly. How should we view this?

Pressure and challenges have always been accompanied by the development trajectory of China's economy, which seeks progress while maintaining stability.

At a meeting of the Political Bureau of the CPC Central Committee on April 30 this year, it was pointed out that "the sustained economic recovery still faces many challenges"; On July 30, the meeting of the Political Bureau of the CPC Central Committee clarified the "problems in development and transformation"; At the meeting of the Political Bureau of the CPC Central Committee on September 26, it was pointed out that some new situations and problems had emerged in the current economic operation, and new arrangements were made accordingly.

We have a clear idea of "how to see" the situation, we have a decisive move to "how to do" the difficulties, and the scientific judgment and deployment of the Party Central Committee have led the Chinese economy to face the difficulties and move forward.

From the economic data of the third quarter, we can see that the overall tone of stable national economic operation has not changed.

The fluctuation range of economic growth is not large, and it is close to the expected target. The surveyed urban unemployment rate and price levels across the country were generally stable, foreign exchange reserves returned to US $3.3 trillion, and the "macro four corners" supporting the economic market were operating smoothly.

From the economic data of the third quarter, we can see that the general trend of solid progress of high-quality development has not changed.

For example, in the first three quarters of this year, the added value of the equipment manufacturing industry above designated size and the high-tech manufacturing industry above designated size increased by 7.5% and 9.1% respectively. Green industries represented by the "new three" of new energy vehicles, lithium batteries, and photovoltaics continue to maintain double-digit high growth; Personal income grew slightly faster than GDP in the first three quarters. Both the economy and structure are improving.

From the economic data of the third quarter, we can see that the trend of stabilizing the bottom is emerging.

In September, industrial growth rebounded for the first time after falling for four months. From January to September, the growth rate of fixed asset investment stabilized for the first time after several consecutive months of decline. Seemingly ordinary indicators of improvement, hard-won, significance should not be underestimated.

Behind the economic data in the third quarter, we can also feel that a series of policies are working.

Some people say that recently, the Chinese economy has started a "war of confidence."

We lowered the required reserve ratio and interest rates, released long-term liquidity of about 1 trillion yuan, and further lowered the cost of financing for enterprises and credit for households. We will renovate an additional 1 million urban villages and dilapidated houses. It is expected that by the end of the year, the amount of real estate "white list" project loan approval will double, more than 4 trillion yuan...

Numbers often have the most intuitive impact, but the gold content of the policy is not only in the numbers.

The gold content is reflected in the "targeted" : in response to the downward pressure on the economy, strengthen the counter-cyclical adjustment of macro policies; In response to the lack of effective domestic demand, we stepped up efforts to support large-scale equipment upgrades, replace old consumer goods with new ones, and continue to issue ultra-long-term special government bonds. In view of the production and operation difficulties of some enterprises, we will step up efforts to help enterprises and effectively improve the business environment.

The gold content is reflected in the "systematic" : coordinated fiscal, financial, consumption, investment, real estate, stock market, employment, people's livelihood and other areas of policy, forming synergy, fingers into a fist.

The gold content is reflected in the "forward-looking" : focus on the present, pay more attention to solving the major problems of medium - and long-term economic development, formulate major reform measures such as national unified market construction guidelines, and establish future industrial investment growth mechanisms, lay the foundation, benefit the long-term, and anchor high-quality development goals.

At present, the Chinese economy is in a critical period of structural adjustment and transformation. The pains of adjustment continue to be released. It will take time for policies to exert their effect, and it will take patience to continue to recover.

Methods are always more than difficulties, confidence is more expensive than gold. We will implement the decisions and arrangements of the CPC Central Committee, accelerate the implementation of the package of incremental policies and the existing stock policies, and promote the further accumulation of positive factors, so that every economic cell in thousands of industries can better move and become active, and the Chinese economy will continue to warm up and get better.

Source: Chinese government website