Since 2018，the global economy has continued to maintain a steady recovery. Major developed economies in the United States and the Eurozone maintain relatively strong economic growth，while economies in major emerging economies such as India，Russia，and Brazil have achieved varying degrees of recovery. However，the growth of major economies has slowed down，inflation has risen，the Fed has raised interest rates，and the monetary policy cycle has been tightened. At the same time，global debt levels have continued to rise，trade protectionism and anti-globalization have risen，and the risks and difficulties facing the global economy have gradually increase. China’s domestic economy continues to operate in a reasonable range，continuing the overall stable，stable and progressive development trend，and the favorable factors are gradually increasing，laying a good foundation for the stable economic development in the second half of 2019 and 2020. However，we must also see that the current domestic industrial structural contradictions are still quite prominent. The task of converting old and new kinetic energy is arduous，and the economic endogenous growth momentum needs to be further strengthened. The downward pressure on the economy is still relatively large.