China Continuously Provides Power for Global Development

2023-09-01

The first quarter achieved a good start, the second quarter continued to recover, and the quality of development in the third quarter steadily improved. Faced with a complex and severe external environment, the Chinese economy has withstood pressure, stabilized its scale, and improved its quality, injecting confidence and momentum into the global economic recovery. Currently, global inflation is ongoing, financial markets are volatile, debt pressures are rising, and international markets are experiencing an increase in instability, uncertainty, and unpredictable factors. The economies of various countries are facing significant challenges. Against this backdrop, China has brought valuable certainty to the uncertain world economy through its own stable development. The International Monetary Fund predicts that China's economic growth rate will be 5.2% this year, contributing one-third to world economic growth. Goldman Sachs Group released a report stating that with the economic policy setting in the second half of the year, the Chinese market has entered a buying window period. The international community is optimistic about the prospects of China's economy, demonstrating the strong and enduring attractiveness of the Chinese market. Since the beginning of this year, the enthusiasm for foreign investment in China has continued to rise. Tesla is building a new energy storage super factory in Shanghai; Airbus is building its second production line in Tianjin; AstraZeneca has signed an investment cooperation agreement with Qingdao High tech Industrial Development Zone... Foreign enterprises have cast a "vote of trust" on the Chinese economy through practical actions. In the first half of the year, China established 24000 new foreign-invested enterprises, an increase of 35.7%. Developed countries' investment in China has maintained growth, with investments in France, the UK, Japan, and Germany increasing by 173.3%, 135.3%, 53.0%, and 14.2%, respectively. The reason why the world is paying attention to China is that the driving force and momentum of China's economic growth are strong. From the perspective of investment returns, in the first quarter of this year, the China Council for the Promotion of International Trade conducted research visits to over 600 foreign-funded enterprises, and over 80% of the surveyed enterprises expect their investment profit margin in China to remain unchanged or increase this year. From the perspective of market opportunities, relying on a huge market scale, complete infrastructure, continuously optimized business environment, and increasingly in-depth opening strategy, the Chinese market is becoming an incubator, testing ground, and display and promotion platform for new technologies and models, possessing both enormous commercial value and the attribute of a source of innovation. In the context of sluggish global economic recovery, China is actively expanding high-level opening-up, continuously optimizing its trade structure, strengthening economic and trade exchanges with countries around the world, and continuously exploring new spaces for mutually beneficial cooperation between China and foreign countries. In the first half of the year, China's import and export of goods reached 20.1 trillion yuan, setting a new historical high for the same period. From continuously reducing the negative list of foreign investment access, increasing the directory of industries that encourage foreign investment, to synchronously implementing the "Regulations on Optimizing the Business Environment" and the Foreign Investment Law; From promoting the high-quality development of the "the Belt and Road", to promoting the construction of Hainan Free Trade Port, China has shown the world its firm determination to promote development and win-win results through opening up, making the consensus that "investing in China is investing in the future" clearer. It should be noted that economic development has never been smooth sailing. At any stage of development, pressure and challenges coexist. The Chinese economy has strong resilience and ample potential, and the fundamentals of long-term improvement have not changed. Facing the future, China has the confidence, conditions, and ability to promote the continuous optimization of its economic structure, the continuous enhancement of growth momentum, and the continuous improvement of its development trend. It will continue to become an important support for the world economic development and serve the international community

Edit:Hou Wenzhe    Responsible editor:WeiZe

Source:economic daily

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