China's first half of the economy is already showing signs of four bright spots

The middle of 2020 has arrived. After a full pause under the impact of the COVID-19 epidemic, China's economy has been gradually on the road to full resumption of work and production since late February. This huge economy, which shoulders the livelihood of 1.4 billion people, has taken every step towards recovery with full confidence.

With the initial victory and normalization of epidemic prevention and control, various social sectors are making steady progress in recovery. People from all walks of life also hope that after pressing the "reset button", China's economic "giant ship" can return to the track of rapid development.

The whole of things is bound to reveal certain signs in the early stages. This edition focuses on the trends of CPI and PPI, as well as the highlights in finance, employment, consumption and other aspects. It gives an in-depth analysis of how the implementation of policies has shifted from government policies to business operations since the outbreak of the epidemic, thus contributing to the positive changes that have taken place in the Chinese economy.

In today's era of deep globalization, China's economic performance affects the whole world and may even become a bellwether for a new round of global economy. The World Economic Outlook released by the International Monetary Fund (IMF) recently predicts that global GDP will grow by -4.9% in 2020. China is forecast to be the only major economy with positive growth. Meanwhile, for China's economy in 2021, the IMF forecasts a positive growth rate of 8.2%.

So far, although the first half of the data has not officially unveiled, but The first half of China's economy has begun to show signs. This edition from the existing part of the trend of the data judgment, ahead of the reader to look forward to China's economic recovery, back to the track of development of a series of positive changes.

Experts interviewed by China Economic Times believe that, in general, major economic indicators have shown positive changes after months of comprehensive policies.

First, the price index marked by CPI and PPI has fallen more than expected, leaving more time and space for macro-control policies, which is particularly favorable for precise drip irrigation of monetary policies.

Second, the proactive fiscal policy deployment centering on the keynote of tax reduction throughout the year and the positive changes behind the continuous decline of fiscal revenue also demonstrate the tenacity and responsibility of the government and enterprises to jointly overcome the difficulties and help enterprises to survive.

Third, as a positive result, the employment issue, which ranks first in both the "six stability" and the "six guarantee" tasks, is becoming the top priority in local policies. It has also overfulfilled the current task of creating new jobs and laid the foundation for ensuring employment throughout the year.

Fourth, consumption, as a strong support for economic development, benefited from the implementation of policies to expand domestic demand and promote consumption. In May, the retail sales volume of goods approached the level of the same month last year. As a result, consumption as a whole is moving closer to year-ago levels and taking on more of a new-age character.

Experts believe that the accumulation of the above positive factors is in essence brewing a new qualitative change, and the Chinese economy after the qualitative change, is bound to be injected with new development momentum and "blood", and drive the Chinese economy to speed up the recovery.