{"id":11477,"date":"2021-01-23T16:14:14","date_gmt":"2021-01-23T08:14:14","guid":{"rendered":"http:\/\/www.whatchina.cn\/?p=11477"},"modified":"2021-04-08T11:26:32","modified_gmt":"2021-04-08T03:26:32","slug":"economic-news-2020","status":"publish","type":"post","link":"https:\/\/www.whatchina.cn\/economic-news-2020.html","title":{"rendered":"China&#8217;s Top Ten Economic News In 2020"},"content":{"rendered":"<div class=\"37c28470d9d6d3cb9ff74e663adb766a\" data-index=\"2\" style=\"float: none; margin:0px 0 0px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3594734025006597\"\r\n     crossorigin=\"anonymous\"><\/script>\n<\/div>\n<p>In the past 2020, due to the impact of the epidemic, China was the only country in the world with economic growth. China&#8217;s top 10 economic news in 2020 have also been released.<br \/>\n<img decoding=\"async\" class=\"alignnone size-full wp-image-11479\" src=\"https:\/\/www.whatchina.cn\/wp-content\/uploads\/2021\/01\/Chinas-Top-Ten-Economic-News-In-2020a.jpg\" alt=\"China's Top Ten Economic News In 2020\" width=\"640\" height=\"360\" srcset=\"https:\/\/www.whatchina.cn\/wp-content\/uploads\/2021\/01\/Chinas-Top-Ten-Economic-News-In-2020a.jpg 640w, https:\/\/www.whatchina.cn\/wp-content\/uploads\/2021\/01\/Chinas-Top-Ten-Economic-News-In-2020a-300x169.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><br \/>\nOn December 29, hosted by the Economic Information Daily, 13 news organizations and specially invited economists across the country jointly selected the top ten economic news in China and the top ten international economic news in 2020. This selection activity aims to sort out the hot topics of Chinese and international economic news in 2020 from all angles and multiple perspectives, and strive to grasp the pulse of policies and gain insight into economic trends.<br \/>\n<span style=\"color: #ff0000;\"><strong>S<\/strong><strong>ee Also<\/strong><\/span>: <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.whatchina.cn\/top-10-china-science-and-technology-news-in-2020.html\" target=\"_blank\" rel=\"noopener\">Top 10 China Science and Technology News in 2020<\/a><\/span><br \/>\nThe top ten Chinese economic news for 2020 selected this time are:<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#1_Chinas_per_capita_GDP_exceeds_US10000\" title=\"1. China&#8217;s per capita GDP exceeds US$10,000\">1. China&#8217;s per capita GDP exceeds US$10,000<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#2_The_new_securities_law_officially_implements_the_reform_of_the_ChiNext_registration_system\" title=\"2. The new securities law officially implements the reform of the ChiNext registration system.\">2. The new securities law officially implements the reform of the ChiNext registration system.<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#3_A_key_step_in_the_construction_of_Hainan_Free_Trade_Port\" title=\"3. A key step in the construction of Hainan Free Trade Port\">3. A key step in the construction of Hainan Free Trade Port<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#4_Promote_the_%E2%80%9Cdouble_cycle%E2%80%9D_the_central_government_proposes_to_build_a_new_development_pattern\" title=\"4. Promote the &#8220;double cycle&#8221; the central government proposes to build a new development pattern\">4. Promote the &#8220;double cycle&#8221; the central government proposes to build a new development pattern<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#5_The_central_government_launches_a_package_of_policies_to_help_companies_overcome_the_difficulties_of_the_epidemic\" title=\"5. The central government launches a package of policies to help companies overcome the difficulties of the epidemic\">5. The central government launches a package of policies to help companies overcome the difficulties of the epidemic<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#6_The_Central_Deep_Reform_Commission_reviewed_and_approved_a_three-year_action_plan_for_the_reform_of_state-owned_enterprises\" title=\"6. The Central Deep Reform Commission reviewed and approved a three-year action plan for the reform of state-owned enterprises\">6. The Central Deep Reform Commission reviewed and approved a three-year action plan for the reform of state-owned enterprises<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#7_China_has_become_the_only_major_economy_in_the_world_to_achieve_positive_economic_growth\" title=\"7. China has become the only major economy in the world to achieve positive economic growth\">7. China has become the only major economy in the world to achieve positive economic growth<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#8_The_Fifth_Plenary_Session_of_the_19th_Central_Committee_draws_a_blueprint_for_the_development_of_the_%E2%80%9C14th_Five-Year_Plan%E2%80%9D_and_proposes_long-term_goals_for_2035\" title=\"8. The Fifth Plenary Session of the 19th Central Committee draws a blueprint for the development of the &#8220;14th Five-Year Plan&#8221; and proposes long-term goals for 2035\">8. The Fifth Plenary Session of the 19th Central Committee draws a blueprint for the development of the &#8220;14th Five-Year Plan&#8221; and proposes long-term goals for 2035<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#9_All_the_absolute_poor_in_China_are_lifted_out_of_poverty\" title=\"9. All the absolute poor in China are lifted out of poverty\">9. All the absolute poor in China are lifted out of poverty<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.whatchina.cn\/economic-news-2020.html\/#10_The_United_States_continues_to_provoke_economic_and_trade_frictions_national_imports_and_exports_hit_a_record_high_in_the_same_period\" title=\"10. The United States continues to provoke economic and trade frictions, national imports and exports hit a record high in the same period\">10. The United States continues to provoke economic and trade frictions, national imports and exports hit a record high in the same period<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"1_Chinas_per_capita_GDP_exceeds_US10000\"><\/span><strong>1. China&#8217;s per capita GDP exceeds US$10,000<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The National Bureau of Statistics released data on January 17, China&#8217;s GDP in 2019 is close to the 100 trillion yuan mark. Based on the annual average exchange rate, the per capita GDP reached 10,276 U.S. dollars, a step up to 10,000 U.S. dollars. A large country with a population of 1.4 billion, achieving a per capita GDP of more than 10,000 U.S. dollars is a miracle in the history of human development.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_The_new_securities_law_officially_implements_the_reform_of_the_ChiNext_registration_system\"><\/span><strong>2. The new securities law officially implements the reform of the ChiNext registration system.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The revised securities law came into effect on March 1, and China&#8217;s capital market has entered the era of the new securities law. The &#8220;upgraded&#8221; securities law marks another crucial step taken by China&#8217;s capital market on the road of marketization and rule of law. On August 24, the GEM registration system officially ushered in the first batch of 18 companies to go public. The formal implementation of the registration system for the Growth Enterprise Market indicates that the growth enterprise market has entered a new historical stage, and it has also accumulated further experience for the registration system reform of the A-share market.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_A_key_step_in_the_construction_of_Hainan_Free_Trade_Port\"><\/span><strong>3. A key step in the construction of Hainan Free Trade Port<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On June 1, the &#8220;Overall Plan for the Construction of Hainan Free Trade Port&#8221; issued by the Central Committee of the Communist Party of China and the State Council was announced to the public, which finalized the blueprint for the construction of Hainan Free Trade Port. The scope of implementation of the Hainan Free Trade Port covers the entire island of Hainan Island. By 2025, a free trade port policy system focusing on trade freedom and investment freedom and convenience will be initially established. By 2035, it will become a new highland for China\u2019s open economy. In the middle of the century, a high-level free trade port with strong international influence will be fully built.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Promote_the_%E2%80%9Cdouble_cycle%E2%80%9D_the_central_government_proposes_to_build_a_new_development_pattern\"><\/span><strong>4. Promote the &#8220;double cycle&#8221; the central government proposes to build a new development pattern<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On May 14, the Standing Committee meeting of the Political Bureau of the Central Committee proposed that \u201cto give full play to China\u2019s super-large-scale market advantages and domestic demand potential, and to build a new development pattern in which China\u2019s international dual cycles promote each other\u201d; on July 21, General Secretary Xi Jinping hosted the meeting. The entrepreneurs\u2019 symposium emphasized the need to \u201cgradually form a new development pattern with China\u2019s major cycle as the main body and China\u2019s international double cycle mutual promotion\u201d; on July 30, the Politburo meeting released \u201caccelerate the formation of a Chinese cycle as the main body\u201d. , China\u2019s international dual-cycle mutual promotion of the new development pattern&#8221; signal.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_The_central_government_launches_a_package_of_policies_to_help_companies_overcome_the_difficulties_of_the_epidemic\"><\/span><strong>5. The central government launches a package of policies to help companies overcome the difficulties of the epidemic<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Since 2020, in the face of the challenge of the epidemic, the central government has launched a package of policies to support the real economy and help companies overcome difficulties. The People&#8217;s Bank of China decided to reduce the RRR for small and medium-sized banks in April 2020 and lower the interest rate on excess deposit reserves of financial institutions in the central bank. At the same time, the People&#8217;s Bank of China has created two monetary policy tools that directly reach the real economy, namely the Inclusive Small and Micro Enterprise Loan Extension Support Tool and the Inclusive Small and Micro Enterprise Credit Loan Support Program. During the epidemic, the fiscal deficit increased by 1 trillion yuan, the anti-epidemic special treasury bond was issued 1 trillion yuan, and the two &#8220;1 trillion yuan&#8221; went directly to the grassroots, benefiting businesses and people.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_The_Central_Deep_Reform_Commission_reviewed_and_approved_a_three-year_action_plan_for_the_reform_of_state-owned_enterprises\"><\/span><strong>6. The Central Deep Reform Commission reviewed and approved a three-year action plan for the reform of state-owned enterprises<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>On June 30, the 14th meeting of the Central Committee for Comprehensively Deepening Reform deliberated and approved the &#8220;Three-year Action Plan for State-owned Enterprise Reform (2020-2022).&#8221; The meeting pointed out that the next three years will be the key stage of the reform of state-owned enterprises. It is necessary to uphold and strengthen the party&#8217;s overall leadership over state-owned enterprises, uphold and improve the basic economic system, adhere to the direction of socialist market economy reform, focus on key points, make up for shortcomings, strengths and weaknesses. Promote the optimization and structural adjustment of the state-owned economy, and enhance the competitiveness, innovation, control, influence, and risk resistance of the state-owned economy.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_China_has_become_the_only_major_economy_in_the_world_to_achieve_positive_economic_growth\"><\/span><strong>7. China has become the only major economy in the world to achieve positive economic growth<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The sudden COVID-19 epidemic has severely impacted China&#8217;s economy, with GDP in the first quarter falling by 6.8% year-on-year. However, since the second quarter, as China has done a good job in normalizing epidemic prevention and control, resumed work and production, and resumed business and markets, the economy has gradually resumed growth. In the face of the severe and complex international situation, the arduous and arduous tasks of China\u2019s reform, development and stability, especially the severe impact of the COVID-19 epidemic, we maintain strategic determination, accurately judge the situation, carefully plan and deploy, take decisive actions, make hard work, and hand over It is an answer sheet that is satisfied with the people and the world is watching. China has become the only major economy in the world that has achieved positive economic growth.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_The_Fifth_Plenary_Session_of_the_19th_Central_Committee_draws_a_blueprint_for_the_development_of_the_%E2%80%9C14th_Five-Year_Plan%E2%80%9D_and_proposes_long-term_goals_for_2035\"><\/span><strong>8. The Fifth Plenary Session of the 19th Central Committee draws a blueprint for the development of the &#8220;14th Five-Year Plan&#8221; and proposes long-term goals for 2035<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Fifth Plenary Session of the 19th Central Committee of the Communist Party of China will be held in Beijing from October 26 to 29, 2020. The plenum deliberated and approved the &#8220;Recommendations of the Central Committee of the Communist Party of China on Formulating the Fourteenth Five-Year Plan for National Economic and Social Development and Long-Term Goals for 2035.&#8221; The &#8220;Proposal&#8221; is a programmatic document that kicks off a new journey of building a socialist modern country in an all-round way and marches toward the second centenary goal. It is an action guide for China&#8217;s economic and social development in the next five years and beyond.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_All_the_absolute_poor_in_China_are_lifted_out_of_poverty\"><\/span><strong>9. All the absolute poor in China are lifted out of poverty<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The Standing Committee of the Political Bureau of the CPC Central Committee held a meeting on December 3 to listen to a summary and evaluation report on poverty alleviation. After 8 years of continuous struggle, we have completed the task of poverty alleviation in the new era as scheduled. Under the current standards, all rural poor people have been lifted out of poverty, and all poor counties have been removed. Absolute poverty and overall regional poverty have been eliminated. Nearly 100 million poor people have been lifted out of poverty. A major victory has been achieved that has made the whole world admire.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_The_United_States_continues_to_provoke_economic_and_trade_frictions_national_imports_and_exports_hit_a_record_high_in_the_same_period\"><\/span><strong>10. The United States continues to provoke economic and trade frictions, national imports and exports hit a record high in the same period<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>From issuing administrative orders to ban TikTok and Wechat, to using state power to attempt to cut off Huawei&#8217;s chip supply chain, the United States has continuously provoked economic and trade frictions since 2020. On December 8, the Foreign Trade Department of the Ministry of Commerce stated that from January to November, the total national import and export volume was 29.04 trillion yuan, an increase of 1.8%, and the scale hit a record high in the same period. Among them, new business formats and new models of foreign trade have developed rapidly, and exports of cross-border e-commerce and market procurement trade methods have grown rapidly.<br \/>\nIn order to screen out representative economic news events in 2020, the judges participating in the selection carefully compared and repeatedly deliberated on alternative news, proposed amendments and cast votes. Through the summary of votes and revision suggestions, the top ten economic news in China and the top ten international economic news in 2020 are finally selected.<br \/>\nIn addition to the economic reference newspaper, the judges participating in this selection also include (in no particular order) People\u2019s Daily, China Central Radio and Television, China Daily, China Industry News Association, China Economic Media Association, China Youth Daily, Reference News, China Relevant persons in charge of news organizations such as Securities News, Shanghai Securities News, China Business Times, Xinhuanet, and The Paper.<br \/>\nThe specially invited economists are Hou Yunchun, former deputy director of the Development Research Center of the State Council, and Chi Fulin, director of the China (Hainan) Reform and Development Research Institute.<\/p>\n<div class=\"37c28470d9d6d3cb9ff74e663adb766a\" data-index=\"2\" style=\"float: none; margin:0px 0 0px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3594734025006597\"\r\n     crossorigin=\"anonymous\"><\/script>\n<\/div>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>In the past 2020, due to the impact of the epidemic, China was the only&#8230;<\/p>\n","protected":false},"author":1,"featured_media":11478,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[84,49],"tags":[1589,1590,1588],"class_list":["post-11477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-top","tag-china-economic-news-in-2020","tag-chinas-top-economic-news-in-2020","tag-economic-news-in-2020"],"_links":{"self":[{"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/posts\/11477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/comments?post=11477"}],"version-history":[{"count":0,"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/posts\/11477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/media\/11478"}],"wp:attachment":[{"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/media?parent=11477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/categories?post=11477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.whatchina.cn\/wp-json\/wp\/v2\/tags?post=11477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}