NEWS ON 12/15 MARKET EXPECTS MORE ECONOMIC STIMULUS 市场期待更激进的GDP增长目标 -----------------记得点亮右下角的爱心哦------------- MARKET EXPECTS MORE ECONOMIC STIMULUS 市场期待更激进的GDP增长目标 The recently-concluded Central EconomicWork Conference also noted that China's economy has achieved a recovery, withsolid progress made in high-quality development in 2023. Our reporters havespoken to 5 economists from leading financial institutions to get their take onthe conference and the signals it's sent. In today's interview, our reporterZhang Shixuan spoke to Wang Dan, the Chief Economist at Hang Seng Bank China. 最近结束的中央经济工作会议也提到，中国经济正在复苏，2023年高质量发展扎实推进。我们的记者采访了来自5家领头金融机构的经济学家，谈一谈他们对会议所传达的信号的解读。在今天的采访中，本报记者张诗旋采访了恒生银行（中国）首席经济学家王丹。 What signal have you received from the justconcluded Central Economic Work Conference? Is stimulus going to be effectivein getting back the country's economic momentum? 刚刚结束的中央经济工作会议，你收到了什么信号？刺激计划能有效地恢复国家的经济势头吗？ The previous meetings, including the politburo meeting has sent out a signal that the government will implement biggerstimulus in 2024 than the past two years. This is quite necessary for many ofthe domestic producers. They're trying to find new markets, not just domesticmarkets, but also overseas market. Their production capacity has exceeded whatChinese mainland market can absorb. So there is a need to find new projects,new market to basically use up their production capacity. 包括政治局会议在内的前几次会议发出了一个信号，即政府将在2024年实施比过去两年更大的刺激措施。这对许多国内生产商来说是非常必要的。他们正在努力寻找新市场，不仅是国内市场，还有海外市场。他们的生产能力已经超过了中国大陆市场的消化能力。所以有必要找到新的项目，新的市场来消化他们的产能。 How important is this year's CentralEconomic Work Conference, given the headwinds faced by the Chineseeconomy at the moment? 考虑到目前中国经济面临的不利因素，今年的中央经济工作会议有多重要？ We're looking to the new GDP target in theCentral Work Economic Conference. It will be quite essential for businesscommunity to make their plan for the next year. Because this year, theinvestment mood is quite tamed. But next year, many people expect a turnaround.The biggest problem for Chinese economy is still a lack of confidence. It's notjust for consumers, but also investors. And that means for the GDP target in2024, it has to be a little bit more ambitious than just based on fundamentals.So we're expecting more government-led projects, especially in the new energyindustry, supply chain and water projects in central and western China, cityrenovation projects. So a lot of the fiscal expansion has to take place. Andfor domestic consumers, they're expecting faster income growth and that dependson the job market security. In order to achieve that, we also need thegovernment to take a more relaxed stance in both monetary policy and fiscalpolicy. So the Central Economic Work Conference is the foundation for business communityand also it can significantly improve the market sentiment. 我们关注中央工作经济工作会议提出新的GDP目标。对于商界来说，制定明年的计划是非常重要的。因为今年，投资情绪相当温和。但明年，许多人预计情况会好转。中国经济面临的最大问题仍然是缺乏信心。这不仅适用于消费者，也适用于投资者。这意味着，对于2024年的GDP目标来说，它必须比仅仅基于基本面的目标更雄心勃勃。因此，我们预计会有更多