CCP Premier Li Keqiang says economic growth is “extremely unusual”

On July 12th, Li Keqiang presided over a symposium of economic experts and entrepreneurs, according to report from the Communist China’s state news agency “Xinhua”, Li Keqiang directly said the truth at the beginning without being vague. “our country’s economic development in the second quarter was extremely unusual, and the unexpected factors brought severe shocks and new downward pressure on the economy, and major indicators fell deeply in April.”

 What Li Keqiang said is again different from what Xi Jinping said in his public speech. On April 21st, Xi Jinping delivered a keynote speech at the opening ceremony of the Boao Forum for Asia Annual Conference 2022, in which he said that “China’s economy has strong resilience, ample potential, wide room for maneuver, and long-term positive fundamentals will not change. The stabilization and recovery of the world economy will provide strong momentum and provide countries with broader market opportunities.”

 According to Li Keqiang, Communist China’s economy, which has suffered a severe setback, has trouble even in taking care of itself. Under this circumstance, how can it provides strong momentum for the stabilization and recovery of the global economy?

 In his speech, Li Keqiang once again stressed the future direction of policies should be aiming “to stabilize market players, stabilize employment, stabilize prices, and promote reform and opening up.” However, in a recent video circulating on the Internet, Zheng Yuhuang, a professor at Tsinghua University, pointed out that the first half of 2022 has passed, and many enterprises have ceased to operate under the siege of the epidemic. According to a recent article, as of the end of June, there were 460,000 enterprises in Communist China that had closed, and 3.1 million individual industrial and commercial households had been written off. In April, the liquidation of enterprises nationwide soared by more than 23% year-on-year. Some analysts have pointed out that the large number of small and medium-sized enterprises as well as individual industrial and commercial households in mainland China have collapsed and deregistered, which is one of the consequences of the CCP enforcing the “Zero Covid” policy at all costs and implementing draconic lockdown on various major cities.