One of Britain’s leading economists said Chinese consumer 上海品茶微信s will be the driving force of future global economic growth.
Jim O’Neill, chair of the international think tank Chatham House and former chief econom
i 上海品茶微信st at Goldman Sachs, made the remarks in a speech on Wednesday at the celebration of the 70th anniversary of th
e founding of the People’s Republic of China and the second China-UK Economic and Trade Forum in London.
“What happens to the Chinese consumers is more important to China’s future,” O’Neill said.
“If China continues with 8 percent nominal GDP gr 上海品茶微信owth, which I believe is 5 percent real (GDP growth), and 3 percent pri
ces (meaning inflation), and if the Chinese consumers become the 50 percent of that total, the change from the next
year to the next decade is somewhere between $11 to $12 trillion, which is equivalent to create another China,” he said.上海品茶微信
O’Neill i 上海品茶微信s known for coining the term BRIC, the group term for Brazil, Russia, India and China, in 2001, to describe the four rapidly-developing nations that symbolized the shifting balance in the global economy.
South Africa was added to the group nine years later, making it BRICS.
“China remains the only one of the BRICS countries that aft上海品茶微信er 17 years has actually done exactly what we had expected it would achieve,” he said.
His opinion is that the ongoing trade dispute with the Un
ited States is not the most important challenge the country currently faces.
To continue its success, O’Neill said, China ne
上海品茶微信女神会所eds to address aspects of its aging population, which is a key contr
ibutor to the economic growth slowdown, and tackle environmental issues and population control in urban areas.
O’Neill is a former British commercial secretary to the Treasury. He said the Belt and Road Initiative, or BRI, initiated six ye
ars ago, will play a “hugely important” role in global trade, which has been buffeted by rising protectionism and unilateralism.
The BRI aims to build the Silk Road Economic Belt and the 21st Century Maritime Silk Road and deliver policies, infra
structure, trade, financial and people-to-people c上海品茶微信女神会所onnectivity via a new platform for a brighter future.
“If it can be implemented collectively, it can transform the trade pattern in Asia, p
articularly between China and India, two of the major BRICS countries,” he added.
ue of 75 billion yuan, up 23 percent year-on-year. Its net profit totaled 34 billion yuan, jumping 25 percent over the previous year, its earnings report said.
上海千花网This year, Moutai aims to achieve sales revenue of 100 billion yuan, growing 14 p
ercent year-on-year, and reaching a net profit of 45 billion yuan. The company said it is strong and confident enough to drive further growth.
上海千花网”The stock market now shows a prominent problem of polarization. Leading
上海千花网上海品茶white-horse stocks have seen continued steady growth. The climbing share price of Mout
ai definitely gave a boost to many white-horse stocks, with the prices of several stocks reaching their new high, while some ot上海千花网
her themed stocks are being marginalized,” said Yang Delong, chief economist at the Shenzhen-based First Seafront Fund.
Market demand for liquor products will likely remain strong, and major spirit makers a
上海千花网上海品茶re expected to witness more steady and structural growth and continue to remain competitive, Zhongtai Securities said in its report.
As the sun sets and the temperatures begin to cool, the evening heats up as night markets start to boom, especially during holidays and festivals.上海千花网上海品茶
The nighttime economy means people can dine, shop and enjoy entertainment at night.上海千花网
Some cities including Beijing, Shanghai, and Jinan have published policies to support and promote the nighttime economy.
China’s electric car startup NIO recalled 4,803 ES8 vehicles, about one-third of the company’s first batch for delivery, Beijing Youth Daily reported on Friday.
The company also promised to compensate all property losses caused by accidents due to battery quality上海千花网上海品茶 according to law, the report said.
Starting from June 27, the company recalled the 4,803 ES8 electric vehicles with power battery packs manufactured between April 2, 2018, and Oct 19, 2018, a上海千花网上海品茶ccording to a notice from the State Administration for Market Regulation.
The power battery pack used in the vehicle within this recall range is equipped with a module of the specification model NEV-P50, which has the voltage sampling harness in an improper position, where it could cause a fire.
In 2018 the trade volume for food service at night increased 47 percent year-on-year,上海千花网上海品茶
which is 2 percentage points faster than the growth rate for food consumption during the day, accordin
g to statistics jointly issued by the China Tourism Academy and online consumption service provider Meituan Dianping.