Data released by China’s National Bureau of Statistics (NBS) on Jan. 17 showed that, on a preliminary basis, China’s gross domestic product (GDP) exceeded 126 trillion yuan in 2023, an increase of 5.2 percent over the previous year at constant prices.In 2023, China’s economy withstood external pressures and overcame internal difficulties, realizing a rebound to a positive trend, and high-quality development is advancing in a solid manner. People from many countries interviewed by this reporter said that as the world’s second-largest economy, the overall trend of China’s long-term economic upturn will not change, China is still an important engine of global development, and the steadily advancing Chinese economy will continue to provide a strong impetus to the world’s economic development.
“China’s economy has formed good and solid fundamentals in its long-term development.”
The national railroad completed 3.68 billion passenger trips, and the postal industry sent a whopping 162 billion pieces of mail …… These 2023 annual figures convey the heat and vitality of China’s economy. The super-sized market, ample macro policy space, and development momentum brought about by comprehensive deepening of reforms, etc., have helped China’s high-quality development advance solidly.
“In 2023, China’s economy withstood the test and achieved a GDP growth rate of 5.2 percent, which is not easy to achieve. As China’s economic structure continues to be optimized and upgraded, the role of the service sector and consumption as the main engine of economic growth has become more prominent.” According to Chua Wei Chye, senior vice president of Thailand’s Kasikorn Bank, after years of high-speed growth, China’s economy is now paying more attention to the effective improvement of quality and reasonable growth of quantity.
Badawi, a senior reporter of Egypt’s Today’s News, said China’s economy has managed to withstand the pressure and maintain the momentum of an overall upturn and improvement amid the increasing challenges of global economic risks. “The 5.2 percent growth rate is ahead of other major economies and higher than the expected target set at the beginning of the year, which fully demonstrates that China’s economy has formed good and solid fundamentals in long-term development, which not only lays a solid foundation for China’s own long-term development, but also provides a strong impetus for global economic growth.”
In the view of Urs Lustenberger, chairman of the Asian Chamber of Commerce in Switzerland, China’s economic growth rate of 5.2 percent is impressive, and China is an important factor in driving the recovery and growth of the world economy.
According to Romanian economist Andrei Radulescu, in recent years, by focusing on scientific and technological innovation and improving its independent research and development capabilities, China’s economic development has made great strides and “left a deep mark in the world’s economic history.”
“The economic data released by China is encouraging.” Zemir Awan, founding chairman of the Global Silk Road Research Alliance, a Pakistani think tank, said that in 2023, in the face of a complex and volatile international situation, China’s economy maintained a good momentum of development and became an important engine of global economic recovery and growth. “The generally rebounding and improving Chinese economy has injected confidence in global development.”
“China’s scientific and technological innovation continues to realize new breakthroughs, and the new momentum of development continues to strengthen.”
Social R&D investment and investment in high-tech industries have maintained double-digit growth for many years; the number of high-tech enterprises has increased to about 400,000; and green and low-carbon transformation continues to be pushed forward in depth. …… China’s economy has continued to win the advantage and take the initiative in the process of structural adjustment and transformation and upgrading, and high-quality development has become more colorful.
The World Economic Forum’s 2024 Annual Meeting is being held in Davos, Switzerland, and China’s economy has once again become one of the buzzwords. China is shifting from growth based on investment and infrastructure construction, among other things, to growth based on new areas such as electric vehicles, said Borge Brende, president of the WEF. China is going through a period of transition from exports to services and digital trade, and it is also an important producer of renewable energy-related equipment.
China is deeply implementing its innovation-driven development strategy and steadily increasing its investment in innovation to create a new situation for development. The excellent performance of exports of new energy vehicles, lithium batteries and photovoltaic products has added new bright colors to Made in China, and is a reflection of China’s innovation power and development vitality.
On January 17, Shanghai Waigaoqiao Port Haitong International Automobile Terminal, with 7,600 parking spaces, displacement of more than 40,000 tons of “SAIC Anji Shencheng” first voyage to overseas, the ship is loaded with SAIC, Dongfeng, Yutong and other Chinese brands of automobiles and construction machinery. Data show that in 2023, China’s new energy automobile industry ran out of “acceleration”, production and sales volume exceeded 9 million units, exports 1.203 million units, an increase of 77.6%, becoming an important force to promote the transformation of the global automobile industry.
John Morrow, head of the strategy and business development department of the U.S. 3M Company, paid special attention to the enhancement of China’s innovation capacity. He said that China’s innovation capacity is growing rapidly, especially in the sustainable development of the innovation potential is huge, very much looking forward to more cooperation with China in the field of sustainable development and green energy.
“The quality of China’s economic growth is getting higher and higher.” Lustenberg said the positive effects of China’s promotion of the service industry, digital economy, high technology and other fields are emerging.
“The mega market size and continuously released market demand provide a strong endogenous impetus for the high-quality development of China’s economy.” Badawi said China’s in-depth promotion of green low-carbon transformation and active fulfillment of its commitments in sustainable development are expected to make greater contributions to the global response to climate change. “A high-quality developing China will provide more opportunities for the world and will surely boost the common development and prosperity of the global economy.”
In Cai Weicai’s view, the Chinese government, in addition to continuing to expand domestic demand, promote consumption and stabilize exports, has paid great attention to enhancing its independent innovation capability, emphasizing high-tech research and development, and promoting high-quality economic development. “China’s scientific and technological innovation continues to realize new breakthroughs, and the new momentum of development continues to strengthen.”
“It continues to play a key role in driving the world’s economic recovery.”
In 2023, China’s economic growth rate is higher than the projected global growth rate of around 3 percent, ranking it among the world’s major economies. China’s economy will contribute 32 percent to global economic growth in 2023, making it the largest engine of world economic growth, according to a report by the International Finance Forum.
Against the backdrop of a sluggish global economic recovery, the bright performance of China’s economy has made a positive contribution to the prosperity and stability of the world economy, Badawi said. “China’s unswerving expansion of opening up to the outside world and its continued sharing of development opportunities with the rest of the world have not only benefited the Chinese people, but also contributed to the promotion of economic globalization in the direction of more openness, inclusiveness, universality, balance and win-win development.”
“From promoting the high-quality joint construction of the ‘Belt and Road’ to go deeper and deeper, to organizing six consecutive China International Import Expositions, the door of China’s opening to the outside world is opening wider and wider.” Tang Zhimin, director of the China-ASEAN Research Center at Thailand’s Chingay University School of Management, said China’s insistence on promoting high-level opening up to the outside world and unswervingly sharing opportunities with the world has injected more confidence and momentum into the world’s economic development. “I believe that with its own high-quality development, China will continue to inject a powerful force to promote common development and push forward the world’s modernization process.”
“China will continue to be an important engine of global economic growth.” As the world’s second-largest economy, China not only plays an important role in the global economy and trade, but also plays an active role in building a more peaceful and prosperous world, Brende said.
“Global economic development is not a zero-sum game, and strengthening cooperation can create new growth points and bring new opportunities to the world.” The openness and vitality of the Chinese market has provided good conditions for scientific and technological innovation and industrial upgrading, prompting many Chinese companies to become explorers and leaders in the development of emerging industries around the world, which has brought inspiration to the world’s economic development, Awan said.
In Cai Weicai’s view, the world economy is facing many challenges, and the global industrial chain supply chain is undergoing deep adjustment. As an important link in the global industrial chain supply chain, “China’s economic development will continue to play a key role in promoting the recovery of the world economy”.
Source : www.gov.cn
