ANALYSIS OF CURRENT MACROECONOMIC SITUATION

Zhang Ping Yang Yaowu

Abstract: In the complex situation of increasing risks and challenges at home and abroad, Chinese economy has maintained overall stability in 2019, and its main macro indicators are in the target range set at the beginning of the year. Without doubt, some emergencies may still impact the stability of Chinese economy. The impact brought by this epidemic is not trivial on the economic growth in the first quarter of 2020, which is expected to be in the range of 4.0%-4.9%. But on the whole, the epidemic will not change the medium & long term trend of Chinese economy.

Since the outbreak of COVID-19, the central government has adopted a number of preferential fiscal and tax policies for prevention and control of the epidemic, and local governments have also introduced the corresponding supportive policies. Based on the local structural policies, the central government also needs to introduce the corresponding structural supportive policies in response to the epidemic impacts and timely enlarge the aggregate policies to ensure that the economy can still return to its original growth after the impacts. The structural policies are mainly used to support the damaged industries and groups, while the aggregate policies are mainly used for restoration, which should be the focus of the policies in 2020.

Keywords: COVID-19; Economic Situation; Supportive Policies