China-Economic Expectations/Analysis

Shotlist

FILE: China – 2022 (CCTV – No access Chinese mainland)
1. Traffic, buildings

FILE: Shanghai, China – June 2022 (CCTV – No access Chinese mainland)
2. Various of Bund, Oriental Pearl Tower

FILE: China – Exact Location and Date Unknown (CCTV – No access Chinese mainland)
3. Aerial shots of cityscape, factory, wind turbines

Beijing, China – Recent (CCTV – No access Chinese mainland)
4. SOUNDBITE (Chinese) Liu Yuanchun, President of Shanghai University of Finance and Economics (ending with shots 5-7):
“It’s exactly in the middle of comprehensive stagflation in Europe and America that China got a very good chance in the superpower games. In May and June, China’s export did not shrink due to the sluggish economic growth in target markets, but kept increasing due to surging commodity prices.”

FILE: Shanghai, China – Date Unknown (Shanghai Media Group – No access Chinese mainland)
5. Aerial shots of cranes, containers, ships at port
6. Aerial shots of trucks moving; containers

FILE: Shanghai, China – June 21, 2022 (CCTV – No access Chinese mainland)
7. Various of auto production line
8. Worker monitoring machine
9. Auto plant workshop

Beijing, China – Recent (CCTV – No access Chinese mainland)
10. SOUNDBITE (Chinese) Liu Yuanchun, President of Shanghai University of Finance and Economics (partially overlaid with shots 11-15):
“The structural impact brought by rising energy costs has given us an opportunity to comprehensively improve the new energy sector that we have been working on for more than 20 years. We are at the world’s top level of photovoltaic, wind and new energy vehicles. So it’s really important to look at the overall economic situation.”

++SHOTS OVERLAYING SOUNDBITE++
FILE: China – Exact Date and Location Unknown (CGTN – No access Chinese mainland)
11. Aerial shots of wind turbines
12. Aerial shots of solar panels
13. Aerial shots of dam discharging water

FILE: Shanghai, China – June 2022 (CCTV – No access Chinese mainland)
14. Chair production line, workers

FILE: China – Exact Location and Date Unknown (CCTV – No access Chinese mainland)
15. Various of car production line
++SHOTS OVERLAYING SOUNDBITE++

FILE: China – Exact Date and Location Unknown (CGTN – No access Chinese mainland)
16. Various of workers installing solar panels

FILE: Changchun City, Jilin Province, northeast China – May 28, 2022 (CCTV – No access Chinese mainland)
17. Various of diners in restaurant

FILE: Beijing, China – Date Unknown (CCTV – No access Chinese mainland)
18. Various of customers shopping in supermarket

FILE: Sichuan Province, southwest China – April-May 2022 (CCTV – No access Chinese mainland)
19. Various of customers shopping in mall

FILE: China – Exact Location, Date Unknown (CCTV – No access Chinese mainland)
20. Aerial shot of bridge under construction
21. Workers at construction site
22. Aerial shot of construction site
23. Workers working at railway construction site
24. Aerial shot of railway construction site

Beijing, China – Recent (CCTV – No access Chinese mainland)
25. SOUNDBITE (Chinese) Wang Wenbo, Level I Bureau Rank Official, Department of Comprehensive Statistics, National Bureau of Statistics (ending with shots 26- ):
“The first thing to do to stabilize people’s expectations is coordinating epidemic prevention and the socio-economic development. We need to literally achieve efficient coordination, with economic work placed on higher priority position.”

FILE: Dongguan City, Guangdong Province, south China – March 18, 2022 (CCTV – No access Chinese mainland)
26. Various of logistic company staff members transporting goods

FILE: Changchun City, Jilin Province, northeast China – March 17, 2022 (CCTV – No access Chinese mainland)
27. Various of food for sale at supermarket, customers

FILE: China – 2022 (CCTV – No access Chinese mainland)
28. Various of machines operating, workers

Beijing, China – Recent (CCTV – No access Chinese mainland)
29. SOUNDBITE (Chinese) Liu Yuanchun, President of Shanghai University of Finance and Economics (starting with shot 28/ending with shots 30-31):
“We need to greatly enhance the coherence of our policies by reforms. We need to find a convergence between the package of recovery tools and our reform strategy. Stabilizing expectations with the sense of gain from reform and economic growth is the most fundamental and practical approach for recovery.”

FILE: China – Exact Date and Location Unknown (CGTN – No access Chinese mainland)
30. Aerial shots of power plant
31. Various of machine operating at power plant

FILE: China – Exact Location and Date Unknown (CCTV – No access Chinese mainland)
32. Various of factories, machinery operating

FILE: China – 2022 (CCTV – No access Chinese mainland)
33. Various of machines operating, workers

Storyline

China should pursue consistent economic policies and seize its opportunities at the supply side to stabilize people’s expectations and restore confidence, experts told China Central Television (CCTV) in a recent video interview.

Liu Yuanchun, President of Shanghai University of Finance and Economics, said the worsening stagflation in many European and American countries provides new opportunities to China as a major commodity supplier.

“It’s exactly in the middle of comprehensive stagflation in Europe and America that China got a very good chance in the superpower games. In May and June, China’s export did not shrink due to the sluggish economic growth in target markets, but kept increasing due to surging commodity prices,” Liu said.

China’s export in June grew by 22 percent, exceeding prior expectations. Liu said the reason behind that is the surging commodity prices in Europe and America must find solutions from the supply side, where China has the capability to make a difference.

“The structural impact brought by rising energy costs has given us an opportunity to comprehensively improve the new energy sector that we have been working on for more than 20 years. We are at the world’s top level of photovoltaic, wind and new energy vehicles. So it’s really important to look at the overall economic situation,” he said.

The Chinese economy is rebounding faster from the latest COVID outbreaks comparing with the situation in 2020. From April to June this year, the growth rate of industrial production rebounded by 6.8 percentage points from the same period last year, 1.3 percentage points higher than March-May period of 2020.

It took China five months to resume positive growth in the previous round of COVID-19 outbreaks, while the country only used two months in this round of outbreaks.

In such an uncertain era, it is all the more important to face it with recovering consumption demand and seize the opportunities brought by the changes of the times and the economic recovery in future, Liu pointed out.

Wang Wenbo, Level I Bureau Rank Official, and also a senior statistician at the Department of Comprehensive Statistics under the National Bureau of Statistics, said that the key to restore people’s confidence is to clearly prioritize economic growth while securing epidemic control.

“The first thing to do to stabilize people’s expectations is coordinating epidemic prevention and the socio-economic development. We need to literally achieve efficient coordination, with economic work placed on higher priority position,” he said.

Liu also mentioned the importance of coherent economic recovery policies.

“We need to greatly enhance the coherence of our policies by reforms. We need to find a convergence between the package of recovery tools and our reform strategy. Stabilizing expectations with the sense of gain from reform and economic growth is the most fundamental and practical approach for recovery,” Liu said.