China’s economy is a sea, not a small pond!

　　On the 5th, the first China International Import Expo opened in Shanghai. The Supreme Leader of president, China attended the opening ceremony and delivered a keynote speech. In the speech, the Supreme Leader’s speech that China’s economy is a sea aroused widespread concern. Why is China’s economy a sea rather than a small pond?

　　Six favorable conditions

　　The Supreme Leader pointed out that China is the second largest economy in the world, with a large market of more than 1.3 billion people and a land area of more than 9.6 million square kilometers. China’s economy is a sea, not a small pond. When the sea is calm, there are also times when the wind is crazy and the rain is sudden. Storms can overturn small ponds, but not the sea.

　　The Supreme Leader said that everyone can be optimistic about China’s economic development prospects. China has many favorable conditions to maintain long-term, healthy and stable economic development.

　　The supreme leader’s "China’s theory of economic sea" echoed the speech he made at the symposium of private enterprises a few days ago. At that time, he clearly pointed out that we should see favorable conditions and enhance our confidence in winning China’s economic development. These advantages include:

　　China has great development resilience, potential and room for manoeuvre. China has a domestic demand market with a population of more than 1.3 billion, which is in the synchronous development stage of new industrialization, informationization, urbanization and agricultural modernization. The expansion of middle-income groups breeds a large number of consumption upgrading needs, and the uneven development of urban and rural areas contains considerable room for development.

　　China has good development conditions and material foundation, the most complete industrial system in the world and the increasing ability of scientific and technological innovation, and the total savings rate is still at a high level.

　　China is rich in human capital, and the comparative advantage of labor force is still obvious.

　　China has a vast territory, rich total land resources and huge potential for intensive land use, which also provides a good space support for economic development.

　　The fundamentals of China’s healthy and stable economic development have not changed, the conditions of production factors supporting high-quality development have not changed, and the overall momentum of long-term stability has not changed.

　　We have the strong leadership of the Party, the political advantage of concentrating our efforts on major issues, deepening reform in an all-round way, constantly releasing development momentum, and constantly enhancing our macro-control ability.

　　Because of this, as long as we maintain our strategic strength, comprehensively deepen reform and opening up, deepen structural reform on the supply side, and make great efforts to solve outstanding contradictions and problems, China’s economy will surely accelerate its transition to a high-quality development track, the people of China will surely overcome all difficulties and challenges along the way, and China will surely usher in a brighter development prospect.

　　China’s economy is still operating in a reasonable range.

　　In addition to the six favorable conditions, there are concrete data to support China’s theory of economic sea. In the first three quarters, China’s GDP increased by 6.7%, and in the third quarter it increased by 6.5%, which was in line with the expected target. The annual grain output is expected to remain above 1.2 trillion Jin. 11.07 million new jobs were created in cities and towns, and the annual target was achieved ahead of schedule. From the economic growth, employment, prices, international payments, corporate profits, fiscal revenue, labor productivity and other major indicators, China’s economic operation is in a reasonable range, laying an important foundation for achieving the annual goals and tasks. Compared with other major economies, China’s economic growth is still in the forefront of the world.

　　According to the data released by the Ministry of Commerce on October 18th, in the first three quarters of this year, 45,922 foreign-invested enterprises were newly established in China, up 95.1% year-on-year. The actual use of foreign capital was 636.7 billion yuan, a year-on-year increase of 2.9%. Gao Feng, spokesman of the Ministry of Commerce, said at the press conference held on the same day that the industrial structure and regional layout of China’s utilization of foreign capital are also being further optimized, and the manufacturing industry, especially the high-tech manufacturing industry, is growing rapidly.

　　The data really shows that storms can’t overturn the sea.

　　The effectiveness of the policy has been or is emerging.

　　The road to simplicity is the most important thing. Regarding some difficulties and challenges faced by China’s economy, the Supreme Leader said that on the whole, these are problems encountered in the process of progress, and we are taking measures to actively solve them, and the results have been or are showing.

　　Recently, the central authorities have taken a series of measures. On July 31, the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting put forward "six stabilities", all localities vigorously improved the business environment, raised the tax threshold to increase residents’ spending power, and measures to reduce taxes and fees were continuously introduced … … This series of measures is playing a role, and there is a good example. On the evening of October 31, 2018, Beijing time, the World Bank released the 2019 Business Environment Report: Training for Reform. Among them, Chinese mainland ranked 32 places higher than last year, ranking 46th among the top 50 economies in the world. From 2013 to 2018, the World Bank’s Doing Business Report ranked China by 50 places. In last year’s report and the previous year’s report, China ranked 78th. This year, China scored 8.64 points higher than last year, making it one of the economies with the greatest improvement in business environment.

　　There is no end to hard work. In the keynote speech at the opening ceremony of the first China International Import Expo(CIIE), the top leaders put forward five measures to further expand opening up, covering stimulating import potential, continuously relaxing market access, creating a world-class business environment, creating a new highland for opening up to the outside world, and promoting the in-depth development of multilateral and bilateral cooperation. At the symposium of private enterprises held on November 1, the top leaders proposed to implement six policy measures, including reducing the burden of corporate taxes and fees, solving the problem of financing difficulties and expensive financing for private enterprises and so on.

　　With so many favorable conditions, coupled with the hard-working spirit of facing up to difficulties and solving them, China’s economy has a solid foundation. This is also the foundation of "China’s theory of economic sea". Storms can overturn small ponds, but not the sea.