An official of the British Chamber of Commerce in China said that China's economic situation is not as bad as the current mainstream emotions implied, and emphasized that the Chinese economy is developing in the right direction as consumer expenditure increases.
According to Bloomberg News on Wednesday (August 30), Chris Torrens, Vice President of the British Chamber of Commerce, said in an interview with Bloomberg TV that although the Chinese economic recovery has slowed down, he "Do not agree with the view that the Chinese economy is in a serious systemic problem (Systemic Trlet ".
He said that after the elimination of the crown disease epidemic restrictions, China's economic performance is in line with due expectations, and said that local consumers' expenses in services have been rebounded.
Torrence said: "Whether it is stationed in Beijing or running around China, I see that consumer expenditure increases ... We feel that things are developing in the right direction."
The recent series of data shows that China's real estate market has deteriorated, consumers and manufacturing growth have slowed down, and private investment has declined. Economists have been lowered the forecast of China's growth next year.
Economists who have been investigated by Bloomberg believe that China's GDP this year may increase by 5.1%, which is in line with about 5%of targets set by the Chinese government.
