第一个视角：从“春节经济”来看中国的发展活力。今年春节前后，中国经济涌现出一批现象级的亮点。电影、冰雪、文旅等消费市场热点纷呈，展现了国内经济循环的巨大潜力。以“杭州六小龙”等初创企业为代表的科技突破不断涌现，展现了创新创造的巨大能量。绿色家电、新能源产业等绿色经济蔚然成风，展现了转型发展的巨大空间。不同领域的新动能不断积蓄壮大，必将为中国经济带来持久旺盛的发展动力。Source: Xinhua News Agency
Authors: Han Jie, Dong Xue.
On the morning of March 23, Premier Li Qiang attended the opening ceremony of the China Development Forum 2025 annual meeting in Peking and delivered a keynote speech.
Li Qiang stated that, as **** pointed out, development is the eternal theme of human society. Everyone is very concerned about the development of China’s economy and also about the direction of global development. For some time, various observations and analyses regarding the Chinese economy and the world situation have emerged from different levels and perspectives, many of which are insightful. Here, I would like to share some observations and thoughts from three perspectives.
First perspective: looking at China's development vitality from the "Spring Festival economy." Around this year’s Spring Festival, a number of phenomenal highlights emerged in China's economy. The movie, ice and snow, and cultural tourism consumption markets are flourishing, showcasing the immense potential of domestic economic circulation. Technological breakthroughs represented by innovative startups like "Hangzhou Six Dragons" continue to surface, demonstrating the tremendous energy of innovation and creativity. The rise of green economy trends such as green appliances and new energy industries illustrates the vast space for transformative development. New momentum is continuously accumulating and strengthening across different fields, which will surely bring sustained robust growth to China's economy.
Second perspective: interpreting China’s economic policies from the National Two Sessions. This year, China has set the economic growth target at approximately 5%, which is deeply rooted in a profound understanding of China’s economic fundamentals and a strong confidence in its governance capabilities and future development potential. We will focus on combining stronger policy efforts with stimulating market forces to strive to achieve this anticipated goal. On one hand, we will implement more proactive macro policies and further increase counter-cyclical adjustments, introducing new incremental policies when necessary to provide strong support for the continued improvement and stable operation of the economy. On the other hand, we will deepen economic system reforms, continuously advance the construction of a unified national market, focus on resolving the blockages and bottlenecks in economic circulation, create a favorable development environment for various business entities, enhance policy support for enterprise innovation and creation, and strengthen the intrinsic driving forces of development.
Third perspective: thinking about the correct path of global development from the perspective of international changes. In today’s world, economic fragmentation is increasing, and instability and uncertainty are rising, which require countries to open markets and enterprises to share resources, working together to face risks and challenges and to achieve common prosperity. China always closely integrates its own development with global development, insisting on the correct direction of economic globalization, practicing true multilateralism, and striving to be a stabilizing and certain force in global peace and development. We will unswervingly promote open cooperation, advocate fair competition under internationally accepted rules, maintain the smooth and stable operation of free trade, and global industrial and supply chains, continue to welcome businesses from all countries with open arms, further expand market access, actively address business concerns, and help foreign-invested enterprises deeply integrate into the Chinese market. It is hoped that entrepreneurs will be steadfast defenders and promoters of globalization, working together, cooperating sincerely, resisting unilateralism and protectionism, and achieving greater development through mutual benefit.
Wu Zhenglong attended the opening ceremony.
This annual meeting is hosted by the Development Research Center of the State Council. Approximately 720 participants including the President of the New Development Bank, Dilma Rousseff, the President of the Asian Development Bank, Masatsugu Asakawa, as well as domestic and international entrepreneurs, government officials, experts, scholars, and representatives from international organizations attended the opening ceremony.
Editor/Rocky
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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