Page 24 - THE SOUTH CHINA BUSINESS JOURNAL
P. 24
MMUNITY NEWS
Some foreign media say China's measures that would generate more While the Chinese leaders have
economic growth target of
jobs to curb a sharp downturn in emphasized the importance
about 5.5 percent is too high, the economy. He said: "This kind of of orienting the country's
and its economic prospects are steady progress is very important economy more toward domestic
unattainable. Many Chinese in itself, and it needs to be enabled consumption, that effort has
researchers agree with that, saying by the support of a series of repeatedly been hindered by
that achieving this year's economic macroeconomic policies" such as the new COVID-19 outbreaks and the
growth target will be challenging. creation of "more than 11 million, government's strict measures
or preferably over 13 million" new to contain them. China has seen
The"2022 White Paper on the urban jobs. Li also promised tax positive changes in its economic
Business Environment in China" breaks aimed at propping up the performance backed up by
and the "2022 Special Report on the corporate sector at a scale of 2.5 surprisingly good economic data, but
State of Business in South China", trillion yuan ($392.56 billion). the impacts of the latest COVID-19
both produced and published by the resurgence need to be watched.
American Chamber of Commerce in China has become an important
South China (AmCham South China) player on the world stage. Yet, As costs for many raw materials
and released on March 1, show according to the Central Economic have risen, and the pandemic
that foreign invested enterprises Work Conference at the end of 2021, has compelled some consumers
have played, and continue to play, China's economic development to stay home, millions of private
a highly substantial role in China's would face triple pressure in the businesses have suffered, most of
development and prosperity. near future—from demand them small and family-owned. That
is a big concern because
China Steers private companies are the
backbone of the Chinese
economy, accounting
for three-fifths of output
and four-fifths of urban
Economy through employment. We suggest
that every effort be made
to support the small and
family-owned businesses
which very often lack the
Challenges By Harley Seyedin and James Eric (Jay) Black, ability to borrow from
published on China Daily Global, 2022/04/18 banks to ride out the storm.
This month, the Chinese
mainland has seen its
worst COVID-19 outbreak
since the height of the
These enterprises take pride in contraction, supply shocks, and pandemic in early 2020—when
past accomplishments and want to deteriorating expectations. the economy suffered a blow. But
continue to work hand in hand to economic loss may be real this
help overcome the challenges that The Chinese economy started time, a Citigroup report claimed,
lie ahead. 2022 on an uncertain footing, as estimating the outbreak could hit
COVID-19 flareups disrupted factory China's first quarter GDP by at
Notwithstanding the challenges activity and consumer spending. least 0.5 percentage points since
facing all companies, these Overseas demand, too, contracted the most affected regions account
studies show that China remains at a faster-than-usual rate, as the for 16.7 percent of national GDP.
the number one destination rapid spread of the Omicron variant Considering the combined spillover
for reinvestment by a majority of the novel coronavirus dampened effect of other regions' lockdown
of US and European countries, global consumer sentiment. and tightened quarantine measures,
and those other countries which this round could potentially deduct
have participated in our studies. Many extenuating circumstances about 0.5-0.8 percentage points
Guangzhou, followed by Shenzhen, this year, including outbreaks of GDP growth in the first quarter,
Shanghai and Beijing have been and how China overcomes assuming no policy responses. That
voted as the best reinvestment future outbreaks, will impact being said, the number of new cases
destinations in China. the ability of China to reach its is still far lower than in other parts
goals. Having sufficient power of the world such as Europe.
Besides, Premier Li Keqiang has said generation to prevent future
that achieving the government's shortages could also take a Bank of America Securities' China
GDP growth goal will be "not easy", toll if last year's rolling energy equity strategy team claims that
and pledged to implement policy blackouts return. if the pandemic is managed well,
21 AMCHAM SOUTH CHINA
Some foreign media say China's measures that would generate more While the Chinese leaders have
economic growth target of
jobs to curb a sharp downturn in emphasized the importance
about 5.5 percent is too high, the economy. He said: "This kind of of orienting the country's
and its economic prospects are steady progress is very important economy more toward domestic
unattainable. Many Chinese in itself, and it needs to be enabled consumption, that effort has
researchers agree with that, saying by the support of a series of repeatedly been hindered by
that achieving this year's economic macroeconomic policies" such as the new COVID-19 outbreaks and the
growth target will be challenging. creation of "more than 11 million, government's strict measures
or preferably over 13 million" new to contain them. China has seen
The"2022 White Paper on the urban jobs. Li also promised tax positive changes in its economic
Business Environment in China" breaks aimed at propping up the performance backed up by
and the "2022 Special Report on the corporate sector at a scale of 2.5 surprisingly good economic data, but
State of Business in South China", trillion yuan ($392.56 billion). the impacts of the latest COVID-19
both produced and published by the resurgence need to be watched.
American Chamber of Commerce in China has become an important
South China (AmCham South China) player on the world stage. Yet, As costs for many raw materials
and released on March 1, show according to the Central Economic have risen, and the pandemic
that foreign invested enterprises Work Conference at the end of 2021, has compelled some consumers
have played, and continue to play, China's economic development to stay home, millions of private
a highly substantial role in China's would face triple pressure in the businesses have suffered, most of
development and prosperity. near future—from demand them small and family-owned. That
is a big concern because
China Steers private companies are the
backbone of the Chinese
economy, accounting
for three-fifths of output
and four-fifths of urban
Economy through employment. We suggest
that every effort be made
to support the small and
family-owned businesses
which very often lack the
Challenges By Harley Seyedin and James Eric (Jay) Black, ability to borrow from
published on China Daily Global, 2022/04/18 banks to ride out the storm.
This month, the Chinese
mainland has seen its
worst COVID-19 outbreak
since the height of the
These enterprises take pride in contraction, supply shocks, and pandemic in early 2020—when
past accomplishments and want to deteriorating expectations. the economy suffered a blow. But
continue to work hand in hand to economic loss may be real this
help overcome the challenges that The Chinese economy started time, a Citigroup report claimed,
lie ahead. 2022 on an uncertain footing, as estimating the outbreak could hit
COVID-19 flareups disrupted factory China's first quarter GDP by at
Notwithstanding the challenges activity and consumer spending. least 0.5 percentage points since
facing all companies, these Overseas demand, too, contracted the most affected regions account
studies show that China remains at a faster-than-usual rate, as the for 16.7 percent of national GDP.
the number one destination rapid spread of the Omicron variant Considering the combined spillover
for reinvestment by a majority of the novel coronavirus dampened effect of other regions' lockdown
of US and European countries, global consumer sentiment. and tightened quarantine measures,
and those other countries which this round could potentially deduct
have participated in our studies. Many extenuating circumstances about 0.5-0.8 percentage points
Guangzhou, followed by Shenzhen, this year, including outbreaks of GDP growth in the first quarter,
Shanghai and Beijing have been and how China overcomes assuming no policy responses. That
voted as the best reinvestment future outbreaks, will impact being said, the number of new cases
destinations in China. the ability of China to reach its is still far lower than in other parts
goals. Having sufficient power of the world such as Europe.
Besides, Premier Li Keqiang has said generation to prevent future
that achieving the government's shortages could also take a Bank of America Securities' China
GDP growth goal will be "not easy", toll if last year's rolling energy equity strategy team claims that
and pledged to implement policy blackouts return. if the pandemic is managed well,
21 AMCHAM SOUTH CHINA
