Chinese economy remains steady

The Chinese economy will continue to remain on a steady recovery track with supportive government measures taking effect gradually, an official with the country's top economic regulator said on Monday.

While the official data has not been released, Zhao Chenxin, deputy head of the National Development and Reform Commission, said China's economy rebounded notably in the third quarter, and the Chinese economy is doing well among the world's economies.

For instance, compared with soaring prices in other major economies, China's overall price levels are generally stable. China's consumer price index, a main gauge of inflation, rose by 2.8 percent year-on-year in September, while the US consumer inflation in September surged 8.2 percent from a year ago.

Zhao told a news conference held in Beijing that China's economy has maintained a recovery trend despite fluctuations in some months like March, April and July, showcasing its strong resilience and great potential.

With the help of the government's effective measures to contain the pandemic and stabilize growth, China has witnessed a gradual rebound in key economic indicators including industrial production, services, investment and consumption, showing a steady recovery trend overall, he added.

He said China has the world's largest middle-income population, a complete industrial system and supply chain and a modern infrastructure system, offering huge opportunities and creating a broad market space for stakeholders.

Citing the latest monitoring data, Zhao said the country has witnessed a remarkable rise in key equipment orders such as energy equipment, petrochemical equipment, mining machinery, engineering machinery and industrial robots.

Currently, China is building 450 gigawatts of large-scale wind power and photovoltaic bases in the desert regions, such as the Gobi desert among others. The policy-backed and developmental financial tools have effectively supported the construction of infrastructure in key fields, Zhao said.

ouyangshijia@chinadaily.com.cn