In-Depth: How to Create Synergy for Promoting Growth? (AI Translation)
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- China's economy is expected to grow by 5.2% in 2023, surpassing the initial target, but concerns arise due to persistently low inflation rates and increasing supply overcapacity.
- The Consumer Price Index (CPI) only grew by 0.2% throughout 2023, the lowest since 2010, while the Producer Price Index (PPI) has been negative for 15 months, leading to debates about potential deflation.
- Policymakers are focusing on stimulating effective demand and addressing deflation risks with a mix of monetary and fiscal policies, including a climate compensation fund launched at COP28.
文｜财新周刊 于海荣 王力为
By Caixin Weekly's Yu Hairong and Wang Liwei
2023年是中国走出疫情后的复苏首年。国务院总理李强在2024年1月16日出席瑞士达沃斯论坛时宣布，2023年中国实际经济增速预计达到5.2%，可谓超额实现年初目标，令人为之一振。
2023 marks the first year of China's recovery after emerging from the pandemic. On January 16, 2024, Chinese Premier Li Qiang announced at the World Economic Forum in Davos, Switzerland, that China's actual economic growth rate for 2023 is expected to reach 5.2%, exceeding the initial target and providing a boost of confidence.
但与此同时，价格走势持续走低，揭示总需求隐忧，叠加越来越多的供给过剩状况，也引发各方关注。
However, at the same time, the persistent downward trend in prices reveals underlying concerns about overall demand. Coupled with an increasing number of supply surpluses, this has also attracted widespread attention.
根据国家统计局的数据，2023年全年，居民消费价格指数（CPI）同比仅增长0.2%，为2010年以来最低，其中四季度持续为负；工业生产者价格指数（PPI）已连续15个月为负，全年同比下降3%，为2016年以来最低。
According to data from the National Bureau of Statistics, for the full year of 2023, China's Consumer Price Index (CPI) increased by a mere 0.2% year-on-year, marking the lowest rise since 2010, with the fourth quarter continuing to see negative growth. The Producer Price Index (PPI) has been negative for 15 consecutive months, with an annual decline of 3%, which is the lowest since 2016.
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