China’s economy attracts global attention
By He Yin
The Chinese economy has come under international spotlight at the
beginning of 2020. “China will outperform expectations in 2020.” “Economists are
optimistic on China’s growth prospects.” “Eye-catching figures indicate China’s
economic achievements.” It is commonly acknowledged by the international
society that pressured by rising domestic and external risks and challenges,
China’s economy demonstrates bright prospects.
It’s universally recognized that the momentum of steady growth for
China’s economy has never changed and will be an underlying trend going
forward. The recent Global Economic Prospects released by the World Bank
indicated that China’s economy maintained resilient under the support of the robust
growth of disposal income, and the economic growth was one of the fastest in
the world.
Against the backdrop of a sluggish world economy, China will still be
the leading engine of global economic growth, Russia's Sputnik news agency
reported. U.S. media pointed out that strong survey data indicated that China's
economic growth is better than expected, which has given hope to other
export-oriented economies in the region.
China's economic stability and progress remain unchanged, which could
be attributed to the solid foundation laid by long-term development. The
total retail sales of consumer goods in China in 2019 is expected to exceed 40
trillion yuan for the first time, and consumption will contribute
more than 60 percent to economic growth, becoming the first driving force for
economic growth for six consecutive years.
The purchasing managers' index for China's manufacturing sector has
firmed up, with manufacturing confidence continuing to rise. In 2019, China's
GDP is expected to hit 100 trillion yuan.
It has been generally noted that this means that China's per capita GDP
will reach $10,000. The huge volume serves as the basis for China's economic
development and the high-quality development shows the resilience of the
Chinese economy. Foreign media praised that the Chinese economy is picking up
in the headwind.
Reform and opening-up has been further advanced, so that China's
economy is full of new vitality. China's economy faces challenges, but these
challenges can be overcome. As observed by the outside world, China faces up to
the problem of imbalanced and inadequate development, thoroughly implements the
new development concept, and constantly translates external pressure into the
powerful motivation for deepening reform and expanding opening up. As a result,
its economic structure has become more effective, sustainable and innovative.
In the face of the uncertainty brought by protectionism, China
continues to improve the business environment, continuously reduces the overall
level of tariffs, and demonstrates its determination to share the huge
dividends of its market with nearly 1.4 billion people with the world.
"From the investment perspective, China has always been the most
attractive place." The words by heads of transnational corporations
manifested their confidence in the Chinese economy. Stephen Perry, chairman of the
48 Group Club in the UK, believes that opening-up has done wonders for China
and will create even greater wonders.
From being optimistic about to relying more heavily on the Chinese
economy, the world is under stronger influence of China's economy. A recent
poll conducted by the Pew Research Center in the U.S. showed that people in
many countries around the world have a positive view of China's economic growth.
British scholar Martin Jacques pointed out that the main source of
global economic growth in the past decade has been China. China has created the
most unusual economic development story in human history and it will continue
to do so in the next decade.
Japanese media have observed that more and more graduates from the
country consider China's rapid growth attractive and set their sights on job
hunting in China. The positive energy injected into world development by China
has attracted much attention, seen both from global macro-economic analysis and
individual feelings of foreigners.
2020 is a year in which China will win the battle against extreme poverty,
build a moderately prosperous society in all respects, and achieve its first
centenary goal. It is a landmark year in the history of China and the world.
From whichever direction the winds leap, China remains strong. Faced
with instability and uncertainty in the external environment, the Chinese
economy has withstood the test and sharpened its strength and resilience.
In 2020, China is a force that the world can rely on, said a scholar of
international politics based in Berlin, Germany, expressing the world's
confidence in and expectations for China's development. It is believed that the
giant ship of the Chinese economy that sails along the
tide of economic globalization is indestructible. Combining its own development
in the great cause of global common development, China conforms to the trend of
the times.
China’s economy attracts global attention
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