中国经济呈现显著韧性——访世界银行中国首席经济学家米丽莎

Core Viewpoint - Despite facing numerous challenges, the Chinese economy demonstrates significant resilience, with a notable potential for future growth as highlighted by the World Bank's Chief Economist for China, Melissa [1] Economic Performance - The World Bank has raised its forecast for China's economic growth in 2025 by 0.4 percentage points, reflecting better-than-expected performance compared to earlier predictions [1] - The term "resilience" is emphasized as a key descriptor of China's economic performance this year [2] Policy Measures - The Chinese government has implemented stronger macroeconomic policies, including more proactive fiscal policies and moderately loose monetary policies, which have helped boost domestic consumption and investment [2] - The diversification of export markets, particularly towards emerging markets, has supported overall export performance [2] Structural Reforms - Continuous reforms, such as enhancing social security measures and promoting private sector confidence, are crucial for maintaining economic resilience [3] - Initiatives like increasing basic pension benefits, providing childcare subsidies, and promoting free preschool education are aimed at reducing precautionary savings and sustainably boosting domestic consumption [3] Innovation and Investment - China has established an innovative ecosystem that drives cutting-edge research, with foreign direct investment (FDI) in high-tech sectors accounting for about one-third of new inflows, indicating strong interest from international investors [3] - The focus on high-quality development, particularly in consumption-driven growth, innovation transformation, and low-carbon development, presents numerous new opportunities [3] Long-term Outlook - The World Bank has also raised its growth forecast for China in 2026 by 0.4 percentage points, anticipating that macroeconomic policies and structural reforms will continue to yield positive effects [4] - The transition from rapid growth to a more sustainable growth model emphasizes quality, with ongoing green and low-carbon transformations expected to create new growth and employment opportunities [4] Global Impact - China's economic growth is deemed crucial for global economic growth, playing a significant role in global value and supply chains, not only through exports but also by investing overseas and transferring technology and skills [4]