The global economic recovery from the COVID-19 pandemic is going to be led by Asia, and particularly by China, said Bernard Yeung, a professor at the National University of Singapore Business School.
China stronger after COVID challenge Xinhua | Updated: 2020-12-29 09:34 Share CLOSE Workers inspect a new car at the production line of Dongfeng Passenger Vehicle Co in Wuhan, Hubei province. [Photo/Xinhua]
Stringent public health measures and supportive monetary, fiscal policies boost commercial activity
BEIJING－China s economy, the first in the world jolted by the COVID-19 pandemic, is bouncing back from the contagion after effective virus controls and targeted stimuli while the disease continues to threaten the rest of the world.
With GDP growth reaching 3.2 percent and 4.9 percent in the second and third quarters, the world s second-largest economy completed the upward leg of a V-shaped recovery from virus-induced lockdowns that sent it into a rare 6.8-percent contraction in the first quarter.
Boosting consumption with balanced policy By LIU YUKUN | China Daily | Updated: 2020-12-28 09:16 Share CLOSE Couriers sort packages at a dispatch center in Tongzhou district, Beijing, during the Nov 11 Singles Day sales festival. Consumption will remain a driver of China s economic growth. [Photo by CAI DAIZHENG/FOR CHINA DAILY]
Demand management to complement supply reform, ride out uncertainties
Huang Xinyi, 30, who landed her third job this month after a three-month gap in Beijing, rushed to snag another round of free digital coupons issued by the city government to boost consumption across multiple e-commerce platforms. I did a lot of research to get more coupons on different platforms, mainly online, to order food delivery, and buy electrical appliances and clothes. That saved me a lot of money with which I could buy other stuff that I needed, she said.
Creating a flourishing, dynamic and entrepreneurial economy By David Blair | China Daily | Updated: 2020-12-28 10:48 Share [CAI MENG/CHINA DAILY]
In a new book, Dynamism: The Values that Drive Innovation, Job Satisfaction, and Economic Growth, Nobel Prize-winning economist Edmund Phelps and his co-authors argued that it s not just technological progress or market efficiency that matters for transformative economic growth. The key is to have an economic and cultural climate that encourages millions of people to experiment with business ideas based on new opportunities－which could be created by new technologies, or by customers with higher incomes, or by new government policies that push market reforms or build new forms of infrastructure.