China energizes the world economy

Recently, the Communist Party of China held its first central economic work conference after the 19^th National Congress. The world is particularly concerned about China’s economic policy in 2018.

The attention stems not only from China’s tremendous achievements in terms of its own development, but also from the real development opportunities China is bringing to other economies, as well as the vitality it has injected into the world economy.

First of all, China has created momentum in terms of growth. Over the past five years, China has contributed over 30 percent of the world’s average annual economic expansion, exceeding the total combined contributions of the United States, the Euro zone and Japan. China’s economic aggregate share of the global economy increased by 3.5 percent in 2018. This means that China has become the major driver and stabilizer for world economic growth.

Secondly, over the years, China has accumulated vast development experience. The country will produce at least 720 billion kilograms of staple goods this year. It has also successively produced the Tiangong, Jiaolong, Tianyan, Mozi and other large-body aircraft. It has lifted more than 60 million people out of poverty, and strengthened educational capacity in its central and western regions and rural areas. These development achievements not only make China a “straight-A student” in the school of the world, but has also created useful experience from which other countries can learn.

Thirdly, China provides effective solutions. China actively advocates building a community of shared future for mankind, has proposed and initiated the Belt and Road Initiative and promoted the establishment of a series of multi-party dialogue mechanisms.  These efforts have provided Chinese ways for all countries worldwide to bridge their differences and reinforce their complementary advantages. These solutions benefit the world in realtime. From 2014 to 2016, the total trade volume between China and “Belt and Road” countries exceeded three trillion U.S. dollars, while related investments exceeded 50 billion U.S. dollars.

The good opportunities are not to be missed. China has achieved economic growth through reform and opening up, and it will further open up to benefit the world. History will eventually prove that China’s development momentum will push the world economy into a virtuous cycle. (People’s Daily overseas edition)

China energizes the world economy

Recently, the Communist Party of China held its first central economic work conference after the 19th National Congress. The world is particularly concerned about Chinas economic policy in 2018. The attention stems not only from Chinas tremendous achievements in terms of its own development, but also from the real development opportunities China is bringing to other economies, as well as the vitality it has injected into the world economy. First of all, China has created momentum in terms of growth. Over the past five years, China has contributed over 30 percent of the worlds average annual economic expansion, exceeding the total combined contributions of the United States, the Euro zone and Japan. Chinas economic aggregate share of the global economy increased by 3.5 percent in 2018. This means that China has become the major driver and stabilizer for world economic growth. Secondly, over the years, China has accumulated vast development experience. The country will produce at least 720 billion kilograms of staple goods this year. It has also successively produced the Tiangong, Jiaolong, Tianyan, Mozi and other large-body aircraft. It has lifted more than 60 million people out of poverty, and strengthened educational capacity in its central and western regions and rural areas. These development achievements not only make China a straight-A student in the school of the world, but has also created useful experience from which other countries can learn. Thirdly, China provides effective solutions. China actively advocates building a community of shared future for mankind, has proposed and initiated the Belt and Road Initiative and promoted the establishment of a series of multi-party dialogue mechanisms. These efforts have provided Chinese ways for all countries worldwide to bridge their differences and reinforce their complementary advantages. These solutions benefit the world in realtime. From 2014 to 2016, the total trade volume between China and Belt and Road countries exceeded three trillion U.S. dollars, while related investments exceeded 50 billion U.S. dollars. The good opportunities are not to be missed. China has achieved economic growth through reform and opening up, and it will further open up to benefit the world. History will eventually prove that Chinas development momentum will push the world economy into a virtuous cycle. (Peoples Daily overseas edition)