News and information
Spread company news and learn about industry trends.
China is no longer pushing through massive stimulus
Finance minister Lou jiwei attended the G20 finance ministers and central bank governors meeting in Moscow on July 20. In response to calls from some European and American countries at the meeting for China to increase economic growth, Lou jiwei said that China will not launch large-scale economic stimulus policies again, but promote structural adjustment and urbanization through reform, so as to promote economic growth and employment.
Lou jiwei believes that China will pay close attention to the trend of the global economy. But other countries cannot force China to grow faster to achieve their own recovery. "We feel very comfortable that we have good jobs. You have to do your own homework.
Liu shangxi: economic growth may slow down slightly in the second quarter, and the "structural contraction" is still continuing. In the face of widespread absolute overcapacity and irrational structure, it is unrealistic to hope for an upward trend in economic growth. It is even more impossible to hope for an upturn in external demand, and it is only economic romanticism to hope for stimulus policies. To avoid long pain, one must endure short pain. In order to avoid the contraction of employment impact, to further reduce the burden on small and medium-sized enterprises and lower the threshold is necessary to entrepreneurship with employment.
Lian ping: it is difficult for aggregate demand to recover effectively. The economy still faces downward pressure, but there is little risk of a "hard landing". At present, the economy is running close to the level of potential growth. Consumer demand remained stable on the whole, with real consumption growth picking up significantly in the second quarter. To keep growth from slipping out of the "floor" for the full year, the government has introduced and is likely to introduce further modest stimulus policies. As a result, annual growth is still likely to remain around 7.5%.
Qu hongbin: whether the economic growth rate is in a reasonable range or not is not up to the government. The main thing to do is to look at the market and enterprises. Businesses are actually already showing signs of deflation and the pressure is building.
Indeed, America's impact on the global economy through QE cannot be underestimated. Recent comments by Ben bernanke, the federal reserve chairman, that he intends to withdraw from QE in 2014 have led to wild swings in global stock and commodity markets. Lou jiwei believes that in the process of withdrawing from QE, the us side should try to consider the interests of other countries.
Morganxia-xiafy: at the G20 meeting this weekend, most countries said that considering the global economy is still fragile, some developed countries should not exit the easing policy early, which is no doubt a kind of objection to the federal reserve withdrawing QE. Moreover, the economic recovery in the second quarter is not as strong as that in the first quarter, which may lead the federal reserve to delay the withdrawal of QE.
Song binh rui: actually bernanke never said for sure that the fed would withdraw from QE at some point. Each time, said that the economic situation and employment situation in accordance with the development of development. It's just that sometimes it focuses on the good part of the recovery, and sometimes it focuses on the bad part.
Yang honghong: federal reserve chairman Ben bernanke has again accused China of manipulating its currency, the yuan, "for many years it has been undervalued in order to increase its exports." But in fact, the us is the country that has manipulated its exchange rate the most over the past half-century. The federal reserve responded to crises and challenges by implementing massive monetary easing policies, whether it was the removal of the gold standard or the aftermath of the 2008 financial crisis.
The central bank and other six departments issued a document: support technology companies listed overseas