江小涓：经济面临下行压力时，要注重市场与政府同向发力

Core Viewpoint - The article emphasizes the importance of maintaining the momentum of economic recovery in China, highlighting the government's comprehensive macroeconomic policies aimed at boosting consumption, investment, and exports [2][3]. Group 1: Economic Recovery - In the first half of 2025, China's economy shows signs of recovery, with strong performance in retail sales and exports [2]. - The Central Political Bureau's meeting on April 25 outlined a balanced and comprehensive macroeconomic policy framework, focusing on both consumption and investment [2][3]. - The emphasis on "quality improvement" and "reasonable growth" reflects a shift towards high-quality development while ensuring economic growth [3]. Group 2: Reform and Opening Up - Significant reforms in state-owned enterprises are underway, with a focus on reallocating state capital to critical industries and public services [4]. - The establishment of a sound bankruptcy mechanism is crucial for optimizing market resource allocation and addressing issues of market entry and exit [5]. - The article highlights the need for fair competition for private enterprises, addressing issues such as overdue payments and unequal treatment in major state projects [5][6]. Group 3: International Competition - China's rapid industrial upgrading has led to direct competition with developed countries, moving from a vertical division of labor to a horizontal one [7]. - The article discusses the potential for negotiation in US-China trade relations, noting a decline in the share of trade with the US in China's overall trade [8]. - Despite recent challenges, globalization remains a strong trend, with global trade as a percentage of GDP reaching a historical high of 61.24% [9]. Group 4: Challenges and Opportunities - Multinational companies face dual pressures of cooperation and competition in China, with some exiting the market due to increased local competition [10]. - The article expresses confidence in China's long-term economic growth, driven by innovation, a large economy, and the burgeoning digital economy [10]. - The need for coordinated policies to support economic growth and maintain confidence is emphasized, particularly in the face of downward pressure on the economy [10].