China’s government is well aware of growing concerns over its economy, to the extent that its core state media listed 10 questions to explain why the country is still doing fine.
China’s government is well aware of growing concerns over its economy, to the extent that its core state media listed 10 questions to explain why the country is still doing fine.
Although China’s post-pandemic economic recovery has been relatively steady thanks to strong exports, its third-quarter GDP growth of 4.9% was the slowest in a year. The economy is under pressure from the faltering property sector, new waves of coronavirus outbreaks, as well as a recent power crunch that halted the production of many factories.
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In a lengthy commentary published on Sunday (Oct. 24), the Xinhua news agency said that overall, the Chinese economy remains”in the recovery trajectory.” The piece, which Xinhua said is based on interviews with “authoritative figures and government bodies,” is in response to “growing pessimism” from all sectors of society, and aims to strengthen confidence in the Chinese economy, wrote Qin Han, the chief analyst on fixed income at Chinese brokerage Guotai Junan Securities.
Here are the key questions, and summaries of Xinhua’s answers:
