Steady start of China’s economy: 4.8 %

Steady start of China’s economy, laying the foundation for achieving the annual economic growth target.

On the morning of April 18, The State Council Information Office held a press conference to introduce the performance of the national economy in the first quarter of 2022. China’s economy delivered a first-quarter Steady start report card: GDP grew 4.8 % from a year earlier and 1.3 % from the fourth quarter.

In the past three months, the Chinese economy encountered many difficulties, but we have weathered them all and Steady start. On the one hand, measures to stabilize growth began to show results in the first two months of this year, and the economy recovered at a relatively fast pace. On the other hand, since March, the domestic epidemic has continued to repeat and the international situation has become more volatile than expected, posing many challenges. In this sense, the results of the first quarter have not come easily. The steady start demonstrates the resilience and vitality of the Chinese economy.

Among the many difficulties, the service sector, micro, small and medium-sized enterprises and individual businesses have been plagued by the problem that goods cannot be shipped out and people cannot be brought in. Logistics is an important foundation for healthy economic operation. Whether it is to unblock the industrial chain or to ensure the steady supply of daily necessities for the people, we must unblock the major arteries and microcirculation. Today, the central government once again made it clear that it will issue unified permits for the use of nucleic acid tests in sufficient quantity, realize mutual recognition of nucleic acid test results across the country within 48 hours, implement closed-loop management of “collection and collection”, and no restriction on travel due to waiting for nucleic acid results.

Going forward, in coordinating epidemic prevention and control with economic development, greater efforts should be made to help those in the bottom line and ensure smooth access to traffic, and more emphasis should be placed on “solid results”. We will see that good measures that work will be implemented, and that the economy will get real momentum and improve.

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