BEIJING, Jan. 13 (Xinhua) — Amid the resurgence of COVID-19 cases, China’s precise containment measures continue to work as a stabilizer for socio-economic development while protecting people’s lives and health. .
In Omicron-affected cities such as Tianjin and Anyang, apart from strict containment measures – rapid lockdowns, mass screenings and large-scale vaccinations, local authorities are sparing no effort to maintain the normal functioning of society, using both online and offline channels to ensure citizens get daily necessities.
“China has taken the ‘dynamic zero-case policy’ approach for two years, and it has proven to be successful. We must continue to put people’s lives first,” said Zhang Boli, an academician. at the Chinese Academy of Engineering and a recipient. the national honorary title “the people’s hero” for his outstanding anti-epidemic efforts.
The National Bureau of Statistics (NBS) reported on Wednesday that China’s consumer price index (CPI), the main gauge of inflation, rose 1.5 percent year on year in December, from 2, 3% a month ago.
For the full year of 2021, the CPI was well below the country’s annual target of around 3% rising 0.9%, the data showed.
China’s producer price index (PPI), which measures the cost of goods leaving the factory, rose 10.3% year-on-year in December, down from a rise in 12.9% YoY recorded in November.
The consumer market remained broadly stable last month, and the slower expansion of both indices was due to the implementation of policies aimed at ensuring supply and stabilizing prices within the framework of prevention and epidemic control, according to NBS senior statistician Dong Lijuan.
The zero momentum approach adopted by China since the start of the epidemic has propelled its economic recovery faster than that of other countries.
“China has taken a leading position in both economic development and pandemic control in the world in 2021,” said Han Wenxiu, an official with the Central Committee for Financial and Economic Affairs.
Over the past year, the world’s second-largest economy has recorded an impressive rebound from the crisis caused by the pandemic. The growth rate of the main economic indicators remained within a reasonable range and more than 12 million new urban jobs were created.
In the face of logistical uncertainties, China-Europe freight trains have emerged as a highlight given their crucial role in improving global supply chains, stabilizing consumer prices and helping countries combat against COVID-19 outbreaks.
Global investors have voted confidence in China. In the first 11 months of 2021, foreign direct investment (FDI) in the Chinese mainland in use exceeded the 1 trillion yuan (156.85 billion US dollars) mark, exceeding FDI for the whole of 2020 and confirming China’s continued commitment. dominant as the top investment destination globally, according to the latest data.
At the end of December 2021, bonds in China’s interbank market held by foreign institutions totaled 4 trillion yuan, an increase of 750 billion from a year ago, the headquarters of the People’s Bank of China told Reuters. Shanghai.
The Institute of International Finance said in a recent report that net capital flows to emerging markets increased last month from November, but fell more than 75% year on year, with China the biggest beneficiary. , as investors fear that other economies will continue to underperform due to COVID-19.
Looking ahead to 2022, China’s solid economic fundamentals, large domestic market and well-established industrial sector, infrastructure and business-friendly environment continue to attract foreign investors, particularly in the management sectors. heritage, new energies and high technology, according to a report. published by KPMG China.
“We expect China’s FDI to remain robust in 2022,” the report read.
The country will also be increasingly shaped by the power of consumption and innovation as it continues to seek greater synergy with global economies, analysts say.
Consumption acted as a mainstay of China’s economy in 2021, and the country should step up efforts to further unleash consumer demand, said Wen Bin, chief analyst at China Minsheng Bank.
In 2022, the country will use its microeconomic policies to boost the vitality of market entities and deepen supply-side structural reform with emphasis on the smooth circulation of the national economy, the Central Conference said. of economic work in December 2021.