China'S Economy Is At A Critical Stage.

Stabilizing policies, consolidating and developing a good situation (conscientiously doing a good job in the annual economic work Series) (1)

China's economy is at a critical stage from the good turn to steady growth. The macroeconomic regulation and control policy is also facing new challenges.

Taking stock of the 7 months that have passed this year, China's economy continues to move forward in response to the impact of the international financial crisis.

In the first half of this year, the economy achieved steady and rapid growth, and GDP grew by 11.1% year-on-year; industrial production, investment growth, money and credit supply fell at a high level; domestic consumption demand steadily increased, import and export trade picked up rapidly; the overall level of prices rose moderately, and the employment situation and the income of urban and rural residents continued to improve.

Statistics from all sides indicate that we have succeeded in getting rid of the shadow of recession brought about by the crisis and achieved some results.

While continuing to pick up again, new developments have also emerged in the economic operation.

The first is the slowdown in economic growth in the two quarter, the increase in industrial added value above scale and the increase in investment in fixed assets, which has brought some difficulties and pressures to the operation of enterprises.

The second is the frequent occurrence of extreme climate, which has increased the uncertainty of agricultural stable production and production.

In spring, Southwest China suffered a severe drought. Since the summer, floods have occurred in many areas since the summer.

Third, inflation expectations are still strong, and uncertain factors affecting price stability will increase.

Fourth, the task of energy saving and emission reduction is arduous and the growth of high energy consuming industries is increasing rapidly.

From the international environment, there are also many uncertainties and unstable factors.

Despite the slow recovery of the world economy, it is increasingly recognized that the seriousness of the impact of the international financial crisis and the twists and turns of economic recovery far exceed expectations.

While the effect of expansionary stimulus policies has gradually weakened, the driving force of economic growth has not yet been revealed.

Unemployment in major developed countries remains high and consumer confidence remains low.

The imbalance in the recovery process of the world's major economies has led to divergence in the economic policy orientation of various countries, making the global economic recovery somewhat uncertain.

The European sovereign debt crisis will not only directly affect the process of economic recovery in Europe, but will also drag on the world economy.