The central bank lowered interest rates to stimulate the economy.
中央银行降低利率以刺激经济增长。
Gross Domestic Product (GDP) is the primary measure of a country's economic health.
国内生产总值（GDP）是衡量一个国家经济健康状况的主要指标。
Inflation occurs when prices rise consistently over time, eroding purchasing power.
通货膨胀是指价格持续上涨，削弱了购买力。
Fiscal policy involves government spending and taxation to influence macroeconomic variables.
财政政策涉及政府支出和税收来影响宏观经济变量。
Unemployment rate is a key indicator of the labor market's performance.
失业率是劳动力市场表现的关键指标。
The trade deficit reflects a country's inability to meet its imports with exports.
贸易赤字反映了一个国家无法用出口满足进口的情况。
Monetary policy is conducted by a central bank to manage money supply and interest rates.
货币政策由中央银行执行，以管理货币供应和利率。
A recession is a significant decline in economic activity lasting more than six months.
衰退是指经济活动持续六个月以上的大幅度下降。
Aggregate demand refers to the total quantity of goods and services consumers and businesses want to buy at a given price level.
总需求是指消费者和企业在给定价格水平下想要购买的商品和服务总量。
International trade affects macroeconomic stability through imports, exports, and exchange rates.
国际贸易通过进口、出口和汇率影响宏观经济稳定性。
Sergio Rossi, a professor of macroeconomics and monetary economics at the University of Fribourg in Switzerland, said the LNG deal with the UAE showed that oil exporting countries are keen on using currencies such as the yuan, rather than the dollar, at the international level.
Hu Yifan, head of macroeconomics for Asia-Pacific at UBS Global Wealth Management, said investments in such high-tech sectors as microchips, new materials, high-end equipment, robotics and artificial intelligence will likely register resilient growth this year, helping the country's annual GDP growth rebound to about 5 percent from 3 percent in 2022.
"Macroeconomics and climate are important aspects that influence the growth of electricity consumption.
Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific at UBS Global Wealth Management, said the Swiss wealth manager forecasts that China's year-on-year retail sales growth may rally from about 1 percent last year to at least 5 percent this year as economic activity returns to normal from COVID-19 and creates more offline consumption.
Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific at UBS Global Wealth Management, said the Swiss wealth manager remains neutral on China's stock market despite the country's improving growth prospects.
Addressing the same event, China Merchants Group Chairman Miao Jianmin said variables such as macroeconomics, geopolitics, the COVID-19 pandemic and supply chain restructuring have greatly increased the difficulty of controlling the shipping market's current operating rhythm.
Feng Mohan, a macroeconomics researcher at Beijing FOST Economic Consulting Co Ltd, said the rise in July CPI was mainly driven by food price gains, which was largely due to rising pork prices.
Yin Yue, a macroeconomics analyst at Shanghai-listed Hongta Securities, agreed that inflation will not put much pressure on China's monetary easing, especially considering the relatively low core CPI level and the slowdown in PPI growth.
Looking ahead, Feng Mohan, a macroeconomics researcher at Beijing FOST Economic Consulting Co Ltd, said he will not rule out the possibility that the PPI will decline in the second half amid weakening global demand, a gloomy global outlook and a high base effect from the previous year.
Gao Ming, who analyses macroeconomics at China Merchants Securities, said maintaining its attraction for foreign investment is of long-term significance for the nation's economic growth, especially in the manufacturing sector.
With multiple policy support and better containment of COVID-19, China's economy is expected to rebound in the second half of the year after slowing down in the second quarter, said Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific with UBS Global Wealth Management.
"It is most likely for policymakers to set next year's GDP growth target at around 5.5 percent," said Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific with UBS Global Wealth Management-one of the world's largest wealth managers.
"On the high comparison basis of strong export performance last year, China has registered quite good export performance this year, which is a testimony to the nation's strong resilience in supply chains," said Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific with UBS Global Wealth Management, one of the world's largest wealth managers.
Hu Yifan, head of macroeconomics for Asia-Pacific with UBS Global Wealth Management, said Liu's remarks signaled that the Chinese government may moderately ease macro policy in the coming year to avoid any sharp economic slowdown, but aggressive stimulus measures will be unlikely given the emphasis on policy stability.
Hu Yifan, head of macroeconomics for Asia-Pacific with UBS Global Wealth Management, said the Chinese central bank may cope with the downward pressure by reducing the reserve requirement ratio by the Spring Festival holiday, which will start from the end of January.
Cao Yuanzheng, vice-chairman of the China Society of Macroeconomics, told a forum in September that the average pay of Chinese workers will keep rising as the nation's labor force shrinks and demand for workers remains robust.
Shi Yinghua, director of the Research Center for Macroeconomics, which is part of the Chinese Academy of Fiscal Sciences, said that smaller businesses tend to become vulnerable while facing external pressures like the current surge in commodity prices, thereby more targeted efforts are needed to relieve the challenge in the coming months.
中国财政科学研究院宏观经济研究中心主任石英华表示，面对当前大宗商品价格上涨等外部压力时，中小型企业往往会变得较为脆弱，因此在未来几个月内需要采取更具针对性的措施来缓解这一挑战。
Several companies have benefited from its reform and development, said Chang Xiuze, a professor of regional development at the Institute of Macroeconomics under the National Development and Reform Commission.
The writer is a research fellow with the China Finance 40 Forum, an influential think tank in the field of finance and macroeconomics.
The writer is an adviser to the China Finance 40 Forum or CF40, a Chinese think tank in the field of finance and macroeconomics, and an academician at the Chinese Academy of Social Sciences.
"Cao Yuanzheng, deputy head of the China Society of Macroeconomics, a think tank that under the National Development and Reform Commission, said the tertiary sector, or services sector, is key to the transformation of China's development model, while urbanization could help increase residents' income.
Koo's theory and analysis have since entered the framework of macroeconomics and can provide good lessons for other economies that may face problems similar to Japan's in the 1990s.
Shi Yinghua, director of the Chinese Academy of Fiscal Sciences' Research Center for Macroeconomics, said more targeted support and incentives are crucial for the short-term recovery of small businesses.
中国财政科学研究院宏观经济研究中心主任史盈华表示，对小型企业的短期复苏而言，实施更加精准的支持与激励措施至关重要。
Also released at the forum was the China Jet Fuel Consumption Index, jointly compiled by China National Aviation Fuel Group Limited and the Beijing-based Academy of Macroeconomics Research.
Because macroeconomics is a systemic and all-encompassing field, solving critical issues China faces at the moment and will face in the future will require more than simply increasing the central government's leverage ratio and decreasing that of local governments.
Hu Yifan, head of macroeconomics for Asia-Pacific at UBS Global Wealth Management, said the yuan may recover to about, or even stronger than, the 7-per-dollar level by the end of the year as the Fed may stop rate hikes in the coming months.
"Fiscal policy will likely stay proactive with strong infrastructure funding, targeted tax and fee cuts and potential consumption support," stated Hu Yifan, regional chief investment officer and Asia-Pacific head of macroeconomics at UBS Hong Kong.
Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific at UBS Global Wealth Management, said the index has started to outperform global peers, a trend that may continue in the second half.
"The yuan is expected to maintain overall stability with moderate depreciation and come in at around 6.45 against the dollar at the end of the year," said Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific with UBS Global Wealth Management, one of the world's largest wealth managers.
It is a factor that helped China to stave off a crisis during COVID-19, said Hu Yifan, the firm's regional chief investment officer and head of macroeconomics for Asia.
"The Omicron variant is not likely to reverse the global economic recovery," said Hu Yifan, regional chief investment officer and head of macroeconomics for Asia-Pacific with UBS Global Wealth Management, one of the world's largest wealth managers.
Shi Yinghua, director of the research center for macroeconomics at the Chinese Academy of Fiscal Sciences, said China will deepen the reform of its wealth distribution system this year and adjust the revenue sharing structure through adoption of fiscal policies, including tax measures.
More intensified, well-calibrated financial support for China's manufacturers through industry-specific manners, a move encouraged in a recent policy guideline, is likely to give these businesses a strong boost, particularly in niche areas, said Shi Yinghua, director of the research center for macroeconomics at the Chinese Academy of Fiscal Sciences.
"There is room for the central government to issue treasury bonds in the following months to support economic growth, while the policy will remain tight on controlling new "hidden" local government debt, said Chang Xin, a professor of the Department of Macroeconomics of the Chinese Academy of Social Sciences.
According to Li Qilin, chief researcher of macroeconomics at Lianxun Securities, the central regulators have not touched on the topic of increasing the proportion of direct financing over the past two years.
The robo-advisory model developed by the bank will analyze the data reflecting macroeconomics, industries, fundamentals of listed companies, and market performance and risk.
Niu Li, director of macroeconomics at the State Information Center, said Beijing's recent high emphasis on fending off financial risks means the government intends to tackle risk spots one-by-one" — Niu pointed out that the meeting listed six concrete tasks to implement.
Macroeconomics experts and institutes have projected China's growth rate to be above 5 percent this year, which is expected to ease the strain on the job market.
Gao Ming, a macroeconomics analyst at China Galaxy Securities, said the policy measures were unveiled as China's industrial economy stood out as one of the highlights in overall economic performance this year.
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