China'S Economy Grew By 6.2% In The First Three Quarters. What Are The New Highlights?

In October 18th, the National Bureau of statistics issued a preliminary accounting. The first three quarters of this year, the GDP of 697798 billion yuan, an increase of 6.2% over the same period last year.

What are the new highlights of the new data? How does steady growth work?

In October 18th, CCTV financial review invited. Wang Changlin, President of China Institute of Macroeconomics and Ren Xingzhou, researcher of the State Council Development Research Center In-depth analysis.

The first three quarters of the economic growth rate of 6.2% What are the new highlights?

Preliminary accounting, the first three quarters of GDP 697798 billion yuan, calculated at comparable prices, an increase of 6.2% over the same period. On a quarterly basis, the growth rate was 6.4% in the first quarter, 6.2% in the second quarter and 6.0% in the third quarter. According to the industry, the added value of the primary industry is 43005 billion yuan, an increase of 2.9%; the second industry added value of 277869 billion yuan, an increase of 5.6%; the third industry added value of 376925 billion yuan, an increase of 7%.

In the first three quarters of this year, the contribution rate of final consumption expenditure was 60.5%, the contribution rate of capital formation was 19.8%, and the contribution rate of net exports including goods and services was 19.6%.

Wang Changlin: raising gold content on the economic ladder

Wang Changlin, President of China Institute of Macroeconomics Although economic growth has slowed down, this growth rate is still high in the world's major economies. I think economic growth has gone to a new level, and the gold content of the economic operation has increased. It shows that the industrial structure changes, the service industry maintains a relatively fast growth, the transformation and upgrading trend continues to develop, and the energy consumption intensity continues to decline. Observation of economic operation data can not only look at economic growth, but also other economic indicators.

Ren Xingzhou: the overall operation is stable and the people's livelihood index is eye-catching.

Ren Xingzhou, researcher of the State Council Development Research Center In the first three quarters, the overall economic operation is in a reasonable range, and many people's livelihood indicators are brightest. For example, in the first three quarters of the year, 10 million 970 thousand new jobs were employed in urban areas, and 99.7% of the annual target tasks were completed. Employment is the biggest livelihood of the people. With employment, there is a steady income.

In addition, in the first three quarters of the year, the per capita disposable income of the whole country increased by 8.8%, and the actual growth rate was 6.1% after deducting the price factor, which basically synchronized with the economic growth. Among them, the per capita disposable income of the rural residents increased by 6.4% in real terms, and a number of people's livelihood indicators were relatively good.

In the face of economic downward pressure, what does steady growth depend on?

Wang Changlin: strong domestic market demand supports China's steady economic growth

Wang Changlin, President of China Institute of Macroeconomics In the first three quarters, the contribution rate of consumer spending to economic growth remained above 60%. Strong domestic market can provide strong driving force for development. China's domestic market has huge capacity and great potential, providing strong support for steady economic growth.

Ren Xingzhou: great potential for domestic demand and dynamic innovation

Ren Xingzhou, researcher of the State Council Development Research Center Our consumption potential is very huge. The key is to see how to mobilize it. From the recent "eleven" golden week, we can see that the consumption demand of the people is quite strong. In the future, we should continue to push forward on the supply side, innovation capabilities and services. With the continuous improvement of supply capability, the basic role of consumption will continue to grow.

Wang Changlin: confidence in China's long-term economic development.

Wang Changlin, President of China Institute of Macroeconomics I believe that China's economy should be full of confidence in the long term improvement. There are three factors: first, the scale of our labor force is relatively large, the savings rate of residents is relatively high, the ability to innovate is also strong, and the driving force of economic growth is quite sufficient. Second, our country's industrialization and urbanization need to continue to advance. Third, the comprehensive advantages of the domestic market, industrial support and infrastructure are outstanding, and we must look at the economic operation from the general trend and strengthen our confidence in China's economic development.

Ren Xingzhou: grasping steady growth to achieve the expected target for the whole year

Ren Xingzhou, researcher of the State Council Development Research Center In the next four quarters, the economic work must be carried out steadily and steadily. For a long time, we have introduced a lot of counter cyclical policies and measures, which will be further implemented in the future, including measures to reduce taxes and reduce fees, and better help the development of the real economy in finance. Through implementation and deepening, I think it is possible to achieve the expected target of economic growth throughout the year.