The long-term positive fundamentals of China’s economy will not change and will inject more positive energy into the stable, healthy and sustainable development of the world economy

“China’s economic growth target is reasonable and pragmatic”, “reflects the Chinese government’s consistent attention to development” and “believes that the Chinese government has the ability to complete various goals and tasks”… On March 5, the government work report submitted to the fifth session of the 13th National People’s Congress put forward the main expected development targets for this year, of which the GDP growth of about 5.5% has attracted much attention. International public opinion generally believes that considering the scale and volume of China’s economy, the setting of this expected target for economic growth is scientific and reasonable, reflects the initiative of the Chinese government, is conducive to guiding expectations, boosting confidence, building consensus on development, and promoting high-quality development of China’s economy. Striving to achieve this expected goal, China will continue to make important contributions to world economic recovery and growth.

To observe the contribution of China’s economy to the world economy, we should look at both growth and increment. In 2021, China’s total economy will reach 114.4 trillion yuan, reaching 17.7 trillion US dollars at the annual average exchange rate, accounting for more than 18% of the global economy. China’s GDP has increased by $3 trillion a year, which is unprecedented in the history of world economic development. This year, China’s economy has achieved the growth target of 5.5%, which is equivalent to about 7% growth five years ago and 10.5% growth 10 years ago. It will make a considerable contribution to world economic growth.

To observe the contribution of China’s economy to the world economy, we should look at both quantity and quality. At present, the world economic recovery faces many constraints, and the global development process has been seriously impacted. It is a common task for all countries to promote development with a greater sense of access, happiness and security. China fully, accurately and comprehensively implements the new development concept of innovation, coordination, green, openness and sharing, and takes high-quality development as the theme of economic and social development in the 14th five year plan and beyond. China has actively changed its development mode, optimized its economic structure and transformed its growth momentum, creating more opportunities and injecting more vitality into the world. International sources pointed out that China, with a population of more than 1.4 billion, firmly follows the road of high-quality development, which is an important contribution to world economic development and reflects the responsibility of a responsible big country.

Observing the contribution of China’s economy to the world economy depends not only on China’s development, but also on the interaction between China and the world. China has opened wider, wider and deeper to the outside world, creating a more market-oriented, legal and international investment environment for foreign investors and foreign-invested enterprises. One belt, one road from China’s trade in goods, to a new high of $6 trillion, has reached a record high in the scale of attracting foreign investment. Then, we signed more than 200 cooperation documents with more than 140 countries and 32 international organizations to build a “one belt and one way” cooperation document. China actively integrates itself with the world economy and continuously promotes cooperation and win-win results with its own development. At the same time, China firmly upholds the multilateral trading system with the World Trade Organization as the core, actively negotiates and signs more high-standard free trade agreements and regional trade agreements, actively promotes the construction of an open world economy, promotes the establishment of a more fair, just and reasonable global economic governance system, and plays an important role in promoting strong, sustainable, balanced and inclusive growth of the world economy.

The global epidemic continues, the world economy lacks momentum for recovery, commodity prices fluctuate at a high level, the external environment becomes more complex, severe and uncertain, and China’s development faces significantly more risks and challenges. However, the long-term fundamentals of China’s economy will not change. There are many favorable conditions for sustainable development. It will be able to withstand the downward pressure, move steadily and make a long-term progress, and inject more positive energy into the stable, healthy and sustainable development of the world economy.