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    More Policy Measures Needed to Expand China’s Domestic Demand: Experts

    Experts say further policy measures are needed to increase domestic demand to strengthen China’s economic recovery, which gained momentum in December, with signs of deteriorating exports and employment conditions. Manufacturing activity accelerated in December, but export orders within the sector and shrinking staff levels added a note.

    Chang Bin, a senior researcher at the Institute of World Economics and Political Sciences at the Chinese Academy of Social Sciences, said China’s policies to effectively boost domestic demand and counter economic downward pressures caused by dull assets. Sectors and potential slowdowns in export growth said they need to expand their baskets.

    China’s export growth is expected to maintain some resilience, but may slow this year as overseas demand softens as economic stimulus measures in major countries shrink, boosting China’s domestic demand. It emphasizes the need to strengthen. Media outlet.

    Experts say further policy measures are needed to increase domestic demand to strengthen China’s economic recovery, which gained momentum in December, with signs of deteriorating exports and employment conditions. Manufacturing activity accelerated in December, but export orders within the sector and shrinking staff levels added a note.

    “It is wise for the central bank of China to lower the policy rate as soon as possible in order to increase market demand for investment and consumption,” he said. Fiscal policy is more aggressive in promoting infrastructure investment. He added that it should be.

    Such measures will be key to helping the Chinese economy achieve reasonable economic growth of about 5.5% this year. Mr. Zhang added that this is the level needed to maintain stable employment conditions.

    Specifically, the New China Comprehensive Manufacturing Purchasing Managers Index (PMI), which is an index of manufacturing activities according to a private survey, rose from 49.9 in November to 50.9, the highest in six months in December. It is rising and showing new growth momentum in the sector amid rising production. And sales level.

    A PMI reading above 50 indicates expansion and a PMI below 1 indicates contraction.

    However, according to a study released by Caixin Media Group, the sector’s workforce has declined for the fifth straight month in December, the fastest since February 2021, and corporate respondents have left vacant seats on staff. He said he wasn’t particularly keen on filling. Resignation or retirement.

    According to the National Bureau of Statistics, the official manufacturing PMI in December rose from 50.1 in the previous month to 50.3 due to pressure on raw material costs and improved market demand. Still, the sector continued to shrink new export orders and jobs last month, the agency said.

    Fiber2Fashion News Desk (DS)

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    More Policy Measures Needed to Expand China’s Domestic Demand: Experts

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