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Xinhua News Agency, Beijing, December 20, title: China’s Development, A New Beginning, New Opportunities for the World Economy
Xinhua News Agency reporter Li Jie
The Central Conference on Economic Work, which concluded a few days ago, called for a good first step in building a new pattern of development next year and seeing a new perspective. As the second largest economy in the world and the only major economy in the world to achieve positive economic growth this year, China has built a new pattern of development and promoted reform and opening up from a higher starting point, thus which will provide countries all over the world with a wider market and more new development. opportunity.
New opportunities arise from the continuous release of consumer potential. China has a large-scale market with a population of 1.4 billion and is a major engine for global economic growth. In November, Japan’s exports to China have maintained positive growth for five consecutive months; German Zeiss’ last fiscal year operating income in China reached RMB 8 billion, enabling China to overtake the United States and Germany and become the largest Zeiss market in the world. … Some reports predict that China’s middle-income group will reach 800 million in the next 15 years, with strong momentum and enormous potential to improve consumption.
The meeting proposed “to insist on the strategic basis of the expansion of domestic demand”, emphasizing that “effective institutional arrangements must be made to rationally guide consumption, savings and investment”, and arrangements have been made for supportive policy such as expanding consumption, promoting employment and increasing investment. Ding Ke, a researcher at the Asian Economic Research Institute in Japan, believes the meeting proposed to insist on expanding domestic demand, focusing on demand-side management, optimizing the income distribution structure, and expanding the middle-income group. These are very important for China to form a strong domestic market and achieve high-quality development.
New opportunities arise from the steady pace of opening. China adheres to a mutually beneficial and win-win opening strategy, continues to promote broader openness, strives to improve the investment and business environment, and greatly reduces restrictions on access of foreign investment. China is one of the most popular foreign investment destinations in the world. This year, international cross-border investment has been hit hard by the epidemic, but China’s actual use of foreign capital has shown a steady and positive trend, making it one of the few major economies in the world to attract foreign investment. to maintain growth. Bloomberg News reported that international investment giants are optimistic about China’s huge opportunities and have launched new strategies focused on China. Morgan Stanley Asia Pacific executives said Morgan Stanley is “a huge beneficiary of this opening.”
The meeting stressed the need to “advance reform and opening-up comprehensively,” and proposed “to strengthen international macro-policy coordination,” “create a market-oriented, rule of law international business environment,” “we must actively consider joining the Comprehensive and Progressive Trans-Pacific Partnership Agreement “… A series of clear and powerful political signals demonstrate China’s determination to implement” a broader scope, a broader scope and a deeper openness to the world Exterior”. Yu Hong, a senior fellow at the Institute of East Asian Studies at the National University of Singapore, said China’s comprehensive promotion of reform and opening up and attracting more foreign investment by improving its business environment will help economic development. from China and will contribute to the recovery of the world economy.
New opportunities arise from innovation-driven development strategies. Innovation occupies a central place in the overall situation of China’s modernization drive. It is the key to solving the problem of uneven development and promoting high-quality development. This conference will strengthen the national strategic scientific and technological force as the top priority of next year’s key tasks. In the future, as China’s new kinetic energy for innovation and development continues to rise, and new industries grow rapidly, China’s economic vitality will explode further, strongly promoting global growth.
The International Data Corporation recently released a report that predicts that China will account for 15.6% of the global artificial intelligence market by 2024, becoming a major driving force for global market growth. Saudi Finance Minister Mohammed Jadan said that as Saudi Arabia expands digital services across the country, many Chinese companies have already helped the country’s development in areas such as 5G. “We attach great importance to Chinese partners and look forward to expanding cooperation between the two countries in the process of developing the digital economy.”
China cannot develop without the world and the prosperity of the world also needs China. As China embarks on a new journey to build a modern socialist country in a comprehensive way, the high-quality development of the Chinese economy will undoubtedly inject more confidence and vitality into the post-epidemic world. (End up)Return to Sohu to see more
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