中国宏观经济研究院毕吉耀：做强国内大循环 对冲不确定性

Core Insights - China's economy has shown strong vitality and resilience in 2023, with a growth rate of 5.3% in the first half, surpassing last year's 5.0% and approaching the average growth rate of 5.5% during the previous four years of the 14th Five-Year Plan [2][4] - The government is focusing on enhancing domestic circulation to counter external uncertainties, emphasizing the importance of a robust domestic market for long-term growth [5] Economic Performance - Major economic indicators have performed well, with retail sales from January to August reaching 32.4 trillion yuan, a year-on-year increase of 4.6%, and fixed asset investment totaling 32.6 trillion yuan, growing by 0.5% [2] - Foreign trade has also shown resilience, with total goods import and export amounting to 33.61 trillion yuan from January to September, reflecting a year-on-year growth of 4% [2] Technological Innovation - Continuous technological innovation is empowering high-quality development, with significant breakthroughs in fields such as integrated circuits, artificial intelligence, and quantum communication [3] - By 2025, China aims to rank 10th in the global innovation index, with accelerated conversion of patent achievements into productive forces [3] Policy Framework - The government is committed to enhancing the policy toolbox to stabilize employment and the economy, ensuring timely implementation of policies based on changing circumstances [5] - The economic foundation remains stable, with a large market capacity, strong industrial support, and a diverse range of business entities contributing to resilience against external shocks [4]