China Economic Net quoted Yao Jingiwan, a former chief economist of China's National Bureau of Statistics, who wrote that China's economy is complex, but one of the easiest ways to assess it is through agricultural and industrial production.
Publish dateSaturday 2 November 2024 - 12:52
According to Amac News: Jin Giwa, who spoke during the annual meeting of Harvard Business Review, added that this year, China has recorded a significant grain harvest and a significant growth in industrial production, which shows its stable and strong production capacity.
According to China Economic Net, Yao, who has nearly four decades of experience in economic analysis, is knowledgeable about China's economic indicators.
Based on this recognition, he emphasized the strong performance of the agricultural sector and predicted that the national grain production this year will reach a record of 1.4 trillion yen (approximately 700 million tons), compared to the 9-year average of about 100 billion yen (50 thousand tons) will increase.
This achievement reflects several consecutive years of strong grain production in China and strengthens the country's food security.
Yao also emphasized the importance of sustainable supply of agricultural products. Referring to the abundance of meat, chicken, eggs and vegetables and the reduction in prices, he said: "Instead of focusing only on statistics, the food market should be monitored."
As for the industrial sector, Yao noted that equipment production grew by 7.5 percent, while high-tech production rose by 9.1 percent in the first three quarters of this year.
He stated that production is still the backbone of the industry and is increasing especially in the advanced technology sector, adding that energy consumption per unit of added value among large industrial enterprises has decreased by 3.8% compared to the same period last year.
"Exports, the main driver of economic growth, have performed impressively this year," Yao said. In the first three quarters, China's exports increased by 6.2 percent compared to the same period last year, which shows the country's stable competitiveness in global trade.
Yao attributed this strong export performance to three main factors: China's strong and comprehensive industrial and supply chains, its staggering manufacturing capacity, and the vitality of the private sector, which accounts for 55 percent of the economy.
He emphasized: "Therefore, I predict that China's import and export activities will maintain its positive momentum in the next two months."
According to China Economic Net, Yao, who has nearly four decades of experience in economic analysis, is knowledgeable about China's economic indicators.
Based on this recognition, he emphasized the strong performance of the agricultural sector and predicted that the national grain production this year will reach a record of 1.4 trillion yen (approximately 700 million tons), compared to the 9-year average of about 100 billion yen (50 thousand tons) will increase.
This achievement reflects several consecutive years of strong grain production in China and strengthens the country's food security.
Yao also emphasized the importance of sustainable supply of agricultural products. Referring to the abundance of meat, chicken, eggs and vegetables and the reduction in prices, he said: "Instead of focusing only on statistics, the food market should be monitored."
As for the industrial sector, Yao noted that equipment production grew by 7.5 percent, while high-tech production rose by 9.1 percent in the first three quarters of this year.
He stated that production is still the backbone of the industry and is increasing especially in the advanced technology sector, adding that energy consumption per unit of added value among large industrial enterprises has decreased by 3.8% compared to the same period last year.
"Exports, the main driver of economic growth, have performed impressively this year," Yao said. In the first three quarters, China's exports increased by 6.2 percent compared to the same period last year, which shows the country's stable competitiveness in global trade.
Yao attributed this strong export performance to three main factors: China's strong and comprehensive industrial and supply chains, its staggering manufacturing capacity, and the vitality of the private sector, which accounts for 55 percent of the economy.
He emphasized: "Therefore, I predict that China's import and export activities will maintain its positive momentum in the next two months."
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Source : news agency wam
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