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China Gold Corp., a large investment bank, reported on Tuesday that economic growth in both Jiangsu and Guangdong provinces has slowed markedly this year as a "front-runner" of China's economy and a "barometer" of foreign trade. The former is mainly affected by weak domestic demand, especially the slowdown in private enterprise earnings, while the latter is affected by the slowdown in private enterprise earnings. Export growth slowed down.
According to the report, the rising uncertainty of external demand and the aggravation of structural imbalance of economic growth caused by policy imbalance are the two main factors hindering China's economic growth, and the difficulties faced by Guangdong and Jiangsu economies typically reflect the impact of these two problems. In addition, it is worth noting that the risk of equity pledge of Listed Companies in Guangdong and Jiangsu is also accumulating.
The report pointed out that in the short term, we need to pay close attention to the progress of Sino-US trade frictions, the direction and intensity of domestic policy adjustment on the impact of economic growth in these regions and even the whole country. In the medium and long term, on the one hand, we should constantly promote industrial upgrading, enhance export structure and core competitiveness of products, on the other hand, we should firmly promote the reform of fiscal, taxation, state-owned enterprises, finance and other fields to tap the potential and stimulate vitality to better meet the internal and external challenges.
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