China has confidence in promoting sustained economic growth

2024-12-18

The recent Central Economic Work Conference has conveyed a positive signal to promote the steady and far-reaching development of China's economy. The Chinese government is confident in maintaining stable growth of the world's second-largest economy next year. The impact of the decisions made at this conference will far exceed that of China itself. The international community is highly concerned and actively interpreting this conference, believing that China will inject more stability and development momentum into the world economy. This year, facing the complex and severe situation of increasing external pressure and internal difficulties, the Chinese economy has gone through an extraordinary development process and achieved encouraging results. The overall operation of the Chinese economy is stable and steady with progress, and high-quality development is solidly promoted. The main goals and tasks of economic and social development are about to be successfully completed. Especially since September, a package of incremental policies has effectively boosted social confidence and led to a significant economic recovery. It is expected that China's economy will grow by around 5% throughout the year, and its contribution to global economic growth is expected to continue at around 30%. International public opinion believes that this highlights the strong resilience and enormous potential of the Chinese economy. The Chinese economy has a stable foundation, multiple advantages, strong resilience, and great potential, and the supporting conditions and basic trends for long-term improvement have not changed. China has a huge economic volume, market capacity, and industrial supporting capabilities. The dual circulation of internal and external economies can achieve a positive interaction, which is an important guarantee for the stable and far-reaching development of the Chinese economy. In addition to the scale advantage, market advantage, talent advantage, and innovation advantage shared by major economies, China also has unique institutional advantages under the leadership of the Party and the socialist market economy system. Chinese enterprises have a complete industrial system, diverse types of business entities, and strong ability to adapt to environmental changes. Chinese residents have a high savings rate and strong ability to adapt to economic fluctuations. These are key factors that contribute to the strong resilience of the Chinese economy. China is still a developing country with uneven and insufficient development, which is the potential and driving force for China to have greater development space. At present, the world economic situation is facing many difficulties and challenges, with trade protectionism, unilateralism, and geopolitical conflicts intertwined, increasing the uncertainty of the operation of the world economy. China has the conditions and space to increase its countercyclical adjustment efforts, which can provide strong policy support for achieving the target tasks. From proposing a more proactive fiscal policy for the first time, to shifting towards a moderately loose monetary policy for the first time in 14 years, from vigorously boosting consumption and improving investment efficiency, expanding domestic demand in all aspects, to leading the development of new quality productive forces with technological innovation and building a modern industrial system... This Central Economic Work Conference has released a large number of policy benefits, effectively stabilizing social expectations and boosting market confidence. International analysts point out that China has all the tools needed to adapt to the new geopolitical environment, accelerate domestic transformation, and enhance economic vitality. China is solidly promoting high-quality development and will continue to lead the world economy in improving quality and efficiency. From the obvious trend of high-end, intelligent, and green development in traditional industries to significant progress in technological innovation such as integrated circuits, artificial intelligence, and quantum technology, new quality productivity has provided important support for China's high-quality development. China has built nearly 10000 digital workshops and smart factories, and over 400 have been cultivated into national level intelligent manufacturing demonstration factories. The Central Economic Work Conference has made systematic arrangements on how to accelerate the cultivation of new quality productive forces, emphasizing the strengthening of basic research and key core technology breakthroughs, the advanced layout of major scientific and technological projects, the large-scale application demonstration of new technologies, new products, and new scenarios, and the "Artificial Intelligence+" action to cultivate future industries, demonstrating the huge space for high-quality development of the Chinese economy. China continues to expand its opening-up to the outside world and promote the construction of an open world economy, which will promote win-win cooperation among countries. The Central Economic Work Conference has identified "expanding high-level opening-up to the outside world, stabilizing foreign trade and investment" as one of the key tasks for next year, once again demonstrating China's determination to expand opening-up and its responsibility to promote win-win cooperation. Since the beginning of this year, China has fully lifted restrictions on foreign investment in the manufacturing sector and actively aligned with international high standard economic and trade rules; China has signed 23 free trade agreements with 30 countries and regions, and its trade volume with free trade partners accounts for about one-third of its total foreign trade; China has announced that it will grant 100% tariff free treatment to all least developed countries that have diplomatic relations with China. By 2030, China's cumulative imports from developing countries are expected to exceed 8 trillion dollars... China will orderly expand its independent and unilateral opening up, steadily expand its institutional opening up, constantly promote trade and investment liberalization and facilitation, and provide new opportunities for the world with the new achievements of Chinese path to modernization. China will unswervingly handle its own affairs, strive to translate positive factors in all aspects into development achievements, promote the sustained recovery of the economy, forge ahead towards a broad prospect of Chinese path to modernization, and in the spirit of "helping the world together", strengthen solidarity and cooperation with other countries, so as to contribute to promoting world economic development and realizing the modernization of countries around the world with peaceful development, mutually beneficial cooperation and common prosperity. (New Society)

Edit:Yi Yi    Responsible editor:Li Nian

Source:www.people.cn

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