A correct understanding of the current economic situation is the basis for our solid economic work. Recently, the economic data of the third quarter was released, and the overall recovery trend of China's economy was more obvious. The main engine of world economic growth was strong and resilient.

"China's economy has great development resilience and potential", "the long-term fundamentals remain unchanged, and the development prospects are bright", "China's economic ship will continue to ride the wind and waves", since this year, the Party Central Committee with Comrade Xi Jinping at the core has made a series of strategic judgments on China's economic situation, which are comprehensive, dialectical An accurate understanding of the general trend of economic development plays an important guiding role, and also conveys to the world China's firm confidence in working together and moving forward courageously.

Confidence comes from a dialectical understanding of economic fundamentals. To objectively view the overall situation of China's economic operation, we should look at both speed and quality. Since this year, China's economy has withstood the downward pressure caused by the combination of external risks and challenges and multiple domestic factors, and its growth has stabilized and recovered. In the first three quarters, China's GDP grew by 5.2% year on year, ranking first among the major economies in the world. In particular, the third quarter saw a year-on-year growth of 4.9%, down from the second quarter, which was mainly affected by the base of last year. If the base effect is deducted, the average two-year growth rate in the third quarter of this year is 4.4%, 1.1 percentage points faster than the average two-year growth rate in the second quarter. In addition, the month on month growth in the third quarter was 0.8 percentage points faster than that in the second quarter. The economic operation has inertia, and we believe that the fourth quarter will maintain a stable recovery trend. While growth continued to recover, China's prices were generally stable, the employment situation improved, foreign trade was better than expected, corporate profit growth improved, and high-quality development was solidly promoted. Facts have proved that under the complex and severe external environment of sluggish world economic recovery and still high global inflation, China's economy has shown strong resilience, potential and vitality, and remains the ballast and stabilizer of global economic growth.

Confidence comes from an accurate grasp of the law of development. It is advisable to take a broad view to observe China's economy, which is inseparable from historical thinking and historical vision. From the perspective of international experience, after the economic volume reaches a certain scale, industrial upgrading and transformation development are generally accompanied by a slowdown in growth. As the world's second largest economy, China's total economic output last year exceeded 120 trillion yuan, and the corresponding increase for each percentage point of growth was roughly equivalent to 2.1 percentage points 10 years ago. From the perspective of development history, China's economy has always been developing in overcoming challenges, growing in the baptism of wind and rain, and growing through trials. In particular, since the new era, in the face of the danger of crossing the beach, the difficulty of climbing the slope, and the difficulty of breaking through the barrier, we have calmly responded and worked hard. The cause of the Party and the country has made historic achievements, undergone historic changes, and advanced with high-quality development. China's economic strength has achieved a historic leap. As General Secretary Xi Jinping stressed, "When will there be no difficulties? One by one, every year, every year, every year, the Chinese nation has been like this for more than 5000 years. The key to climbing the slope and overcoming obstacles is to boost confidence."

Confidence comes from a deep insight into the superiority of the system. Since this year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at the core, all regions and departments have better coordinated domestic and international situations, better coordinated epidemic prevention and control, economic and social development, better coordinated development and security The momentum of consumption upgrading is obvious in the zigzag progress, the impetus for regional coordination is strengthened, and innovation vitality is constantly released. This fully demonstrates that the CPC Central Committee with Comrade Xi Jinping at the core is completely correct in its decision and deployment on economic work, and fully demonstrates the superb wisdom and proficiency of our Party in controlling the socialist market economy in a complex and volatile situation. Facing the future, we should fully, accurately and comprehensively implement the new development concept, firmly grasp the primary task of high-quality development and the strategic task of building a new development pattern, actively adapt to and lead a new round of scientific and technological revolution and industrial reform, accelerate the realization of self-reliance and self-improvement in high-level science and technology, and implement a series of strategic deployments of the Party Central Committee on scientific and technological innovation, We are fully capable of constantly shaping new drivers of development and new advantages, and firmly grasp the initiative of development.

Unity is strength, confidence is better than gold. The fundamentals of the long-term improvement of China's economy have not changed, nor will they. The key to overcoming various risks and challenges is to strengthen self-confidence, cultivate common sense, stimulate enterprising spirit, and focus on doing our own thing well. Accurately grasp the analysis and judgment of the Party Central Committee on the current economic situation, inspire the spirit, work together, continue to climb the slope, overcome difficulties, muster the spirit of entrepreneurship, and form a good situation of focusing on implementation. China's economic giant will be able to cut through the waves and move steadily forward.

People's Daily (October 25, 2023, Version 1)

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