China Daily Editorial
Given the giant size of the Chinese economy, about 17 percent of the global economy, and the tremendous headwinds it has had to overcome, that it sustained a 5.2-percent growth last year, 2.2 percentage points higher than the previous year, is undoubtedly a hard-won result.
As the majority of the key indicators point to the recovery momentum of the world’s second-largest economy consolidating and strengthening, it can be said that China is quickly adapting to the complicated geopolitical situation and uncertainties.
It is expected that China will have contributed about 30 percent of world economic growth last year, which means that it will have continued to be a major growth engine for the world, as it has been over the past more than three decades.
Beijing’s release of the annual economic data on Wednesday coincided with the annual gathering of the World Economic Forum being held in Davos, Switzerland, and the prospects for the Chinese economy have been much discussed at the gathering.
The data and the Chinese delegation’s productive and warm exchanges with their counterparts from other countries have boosted the global community’s confidence that the recovery of the Chinese economy is sustainable and thus it will provide strong impetus to the global economy.
No wonder World Economic Forum (WEF) President Borge Brende told the media that “the steps that China takes are incredibly important for the world”.
The warm welcome Premier Li Qiang has received in Switzerland and Ireland, which he visited after leaving Davos on Tuesday, as well as the in-depth discussions he had with his hosts in the two countries on green development, high-tech and innovation show the great potential that exists to be tapped.
Although the current external environment is complex and China’s economic development still faces difficulties and challenges, China, as many analysts have observed, has a solid industrial foundation and broad macroeconomic policy space for its pursuit of high-quality development.
With the fundamentals of its economy still strong and the cultivation of new productive forces accelerating, China’s status as a world-class market, global trade hub, a world manufacturing base and a magnet for talents, investment, innovation and technology will only continue to rise.
China’s commitment to opening up remains unwavering and that means it will continue to share its development dividends with the world and create favorable conditions for the world to share in the opportunities created by its pursuit of sustainable growth.
– Courtesy of China Daily
