The global economic recovery remains
sluggish, with geopolitical conflicts exacerbating risks and challenges,
unilateralism and protectionism on the rise, and the rhetoric of
"decoupling" and "de-risking" growing noisier. As the world's
second-largest economy, China's economic trajectory draws worldwide attention.
The latest data from the National Bureau of Statistics of China (NBS of China)
reveals that despite external pressures and internal challenges, the Chinese
economy is constantly improving, playing a pivotal role in supporting global
economic recovery.
اضافة اعلان
China
continues to be the primary engine driving global development
In 2023, the Chinese economy exhibited
robust growth of 5.2 percent, contributing an increment equivalent to the total
economic output of a medium-sized country. This growth rate far exceeds the
projected global growth of approximately 3 percent, solidifying its position at
the forefront among major economies. Over the past decade, China’s contribution
to global economic growth has consistently stayed above 30 percent. China is
the only country encompassing all industrial categories in the UN’s industrial
classification. The added value of its manufacturing industry accounts for
around 30 percent of the global total. China is now advancing Chinese-style
modernization on all fronts through high-quality development, bringing over 1.4
billion people into a modernized era and thus providing a sustained driving
force for global development.
The
achievements are evident in China's high-quality economic development
Prioritizing the optimization and
upgrading of the economic structure, China is implementing an innovation-driven
development strategy. The service industry and consumption, as main drivers of
economic growth, have gained prominence, with the added value in the service
sector accounting for 54.6 percent of GDP in 2023. The three-day New Year
holiday in 2024 saw domestic tourism hit 135 million trips. By the end of 2023,
renewable energy would have exceeded half of the total installed capacity of
electricity generation. Both the production and sales of new energy vehicles
ranked first globally, with a 67.1 percent increase in the export of electric
passenger cars. According to the World Intellectual Property Organization's
(WIPO) annual report, China's global innovation index ranking rose to 12th
place. The “demographic dividend” in China is transforming into a "talent
dividend," with the country leading globally in total talent resources,
science and technology manpower, and overall research and development personnel,
not to mention the second-highest number of unicorn companies.
China's
high-level opening-up continues to progress
China’s overall tariff level has been cut to 7.3 percent, relatively on
par with the level of developed members of the World Trade Organization (WTO).
It is committed to fostering a first-class business environment that is
market-oriented, law-based, and in line with international standards. Over the
past five years, the return on foreign investment in China has stood at around
9 percent, ranking high globally. From January to November 2023, the number of
newly established foreign-invested enterprises increased by 36.2 percent
year-on-year. China has become a major trading partner for more than 140
countries and regions. Despite challenges such as shrinking external demand,
its share of global trade remained stable last year. Total trade with countries
participating in the Belt and Road Initiative (BRI) grew by 2.8 percent,
accounting for 46.6 percent of its total trade volume. China successfully
hosted the International Import Expo (CIIE), the International Fair for Trade
in Services (CIFTIS), and the Canton Fair, with the CIIE witnessing a 6.7
percent increase in the intended transaction amount compared to the previous
edition.
The
bright prospects of the Chinese economy translate into global opportunities
China's current middle-income
population exceeds 400 million people, and it is expected to double in the next
decade or so. Each year, over 100 million people travel abroad. This fuels a
continuous increase in demand for goods and services. The urbanization rate
stands at 66.16 percent, significantly lower than the average of developed
countries. Each year, over 10 million rural residents migrate to urban areas,
creating substantial demand in areas like urban renewal, infrastructure
upgrades in transportation and telecommunications, housing, education, medical
services, and elderly care. China is actively promoting green infrastructure,
green energy, green transportation, and a green lifestyle, with estimated
investment and consumption market values reaching trillions of yuan annually.
President Xi Jinping's call for high-quality BRI cooperation and the Global
Development Initiative (GDI) have provided the most inclusive and extensive
international cooperation platform. China will continue to expand its imports
of high-quality products and services from around the world, providing a
broader space for global trade and investment growth. China will open its doors
even wider.
Looking ahead to 2024, we are mindful
that the external environment for economic development remains complex and
challenging. Issues such as insufficient domestic demand, overcapacity in some
industries, weak social expectations, and numerous hidden risks persist, and
various difficulties and challenges are to be overcome. However, the Chinese
economy retains its resilience, immense potential, and vibrant dynamism. The
long-term fundamentals remain positive. We possess the confidence, conditions,
and capability to successfully achieve annual economic and social development
goals, which in turn will provide impetus for global economic recovery.
Under the strategic guidance of leaders
from both countries, China-Jordan relations have developed healthily and
steadily in recent years, with fruitful results in practical cooperation,
including trade and investment. At the end of last year, China and Jordan
signed a Memorandum of Understanding (MOU) on BRI cooperation, opening up
broader prospects for mutually beneficial cooperation between the two
countries. We wish to seize this opportunity, further align our development
strategies and policy measures with Jordan, work together to inject new
momentum into our bilateral relations and stride forward hand in hand on our
new journeys of modernization.
Chen Chuandong is the Chinese Ambassador to Jordan.
Disclaimer:
Views expressed by writers in this section are their own and do not necessarily reflect Jordan News' point of view.
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