The mainstay of the steady recovery of the world economy

The mainstay of the steady recovery of the world economy
—— Written on the occasion of the release of national economic data in 2017 (part two)

In February 2017, with a train from Kazakhstan loaded with 720 tons of wheat arriving at the logistics transit base of China-Kazakhstan (Lianyungang) as scheduled, the safe passage of grain transit between China and Kazakhstan was officially opened. Xinhua News Agency reporter Han Yuqing photo

On January 12th, CES International Consumer Electronics Show, known as the industry vane, ended in Las Vegas, USA. There are more than 1,500 exhibitors from China, represented by Huawei, Tencent, Ali and Baidu, accounting for more than one third of all exhibitors. Some foreign media dubbed the CES show "China Electronics Show".

Although I am joking, there is no doubt that China’s new formats and models such as e-commerce, mobile payment and sharing economy are leading the global trend, and innovations in the field of artificial intelligence are also emerging one after another. China enterprises have shown their "spirit" on the international stage.

Moreover, the sustained and stable performance of China’s economy over the years has become the key force for the world economy to get out of the trough and bid farewell to "wandering at the bottom". According to an article in The Wall Street Journal, without the strong economic growth of China, the global GDP will increase by one third in the past five years.

Today, in the 40th year of reform and opening up, China’s economy has become the mainstay of the steady recovery of the world economy. China’s economy is profoundly affecting the world.

Provide kinetic energy to drive upgrading and lead innovation-the main engine for promoting world economic growth.

Entering the new era, China’s economy has become the main power source and stabilizer of world economic growth with high value, good temperament, full vitality and high quality.

In 2017, China’s economy performed brilliantly: the economic growth rate was outstanding, the industrial structure continued to be optimized, the employment target was overfulfilled, residents’ income grew steadily, and consumer confidence continued to improve.

Excellent performance has led many international organizations and institutions such as the United Nations, the World Bank, JPMorgan Chase and HSBC to raise their forecasts for China’s economic growth, and the International Monetary Fund has even raised its forecasts four times a year.

What does the upward adjustment of China’s economic growth forecast mean to the world economy?

American economist Stephen Roach said that even if China’s economic growth slows down slightly, China is still the main engine of world economic growth; Without China’s strong growth momentum, the world economy will be in serious trouble.

-Healthy and stable economic development provides impetus for the world economy. 6.9%, 6.9% and 6.8%, which are the economic growth rates of China in the first three quarters of 2017. The economic growth rate of China has remained in the operating range of 6.7% to 6.9% for nine consecutive quarters. In the past five years, China’s economy has grown at an average annual rate of 7.1%, which is much higher than the average growth level of 2.5% in the world and 4% in developing economies in the same period, and it ranks among the top in the world’s major economies. During the same period, China’s annual contribution rate to world economic growth exceeded 30%, exceeding the sum of the contribution rates of the United States, Europe and Japan, and became the main power source and stabilizer of world economic growth. As the largest developing country and the second largest economy in the world, China’s economy has provided the core kinetic energy for the growth of the world economy through its own medium and high-speed development.

-Rapidly improving innovation capability and enhancing new kinetic energy of economic development. In recent years, there has been a "blowout" phenomenon in China’s scientific and technological achievements, and a number of major scientific and technological innovations with international influence have been achieved in basic and frontier fields, and some fields have achieved a leap from "following" to "running together" and "leading". Major scientific and technological achievements such as Tiangong, Jiaolong, Tianyan, Mozi, and domestic large aircraft have come out one after another, and civil drones, industrial robots, and new energy vehicles have developed rapidly. According to the 2017 Global Innovation Index Report released by the World Intellectual Property Organization, China ranks 22nd in the world’s most innovative economy, up three places from the previous year, and once again becomes the leader of middle-income economies. Francis Gurry, Director-General of the World Intellectual Property Organization, said that "China is gradually becoming a global leader in innovation and brand". The enhancement of China’s innovation ability, on the one hand, provides other emerging economies and developing countries with more opportunities for international division of labor and development space; On the other hand, it has also promoted the upgrading of the global industrial chain and injected vitality into the development of the world economy.

-The huge market shows unprecedented expansion and attraction. China has the most populous middle-income group in the world, and traditional consumption and new consumption are increasing at the same time. Nielsen, a global market research company, released a report saying that China’s consumer confidence index reached 114 points in the third quarter of 2017, which has achieved growth for four consecutive quarters, setting a new high since the end of 2013. In "double 11" in 2017, the transaction volume of China reached 253.97 billion yuan, almost five times the sum of online sales of Thanksgiving Day and Black Friday in the United States. At the same time, the total overseas consumption of Chinese mainland’s outbound tourism has maintained double-digit growth for 10 consecutive years. China’s market size and gradually revealed consumption potential have great attraction to the whole world.

Steadily "bring in" and rationally "go out"-a leader in opening up the global economy.

In 2017, when economic globalization was confronted with a strong "headwind", the door to China’s opening was not closed, but opened wider and wider. China has made active use of "two markets and two resources", insisted on paying equal attention to "going out" and "bringing in", and become a leader in promoting global economic opening.

In 2017, China focused on the construction of the "Belt and Road", followed the principle of joint venture, joint construction and sharing, accelerated the promotion of foreign investment cooperation, achieved mutual benefit and win-win, and made great contributions to promoting global economic and trade development.

-The construction of the "Belt and Road" has progressed steadily. In the first 11 months of 2017, China enterprises signed 6,201 new contracts for foreign contracted projects in 61 countries along the Belt and Road Initiative, with a new contract value of US$ 113.52 billion, and a number of major projects made substantial progress. China helps countries along the "Belt and Road" to develop infrastructure and transfer related industries to the latter, which will help relevant economies to upgrade their industrialization level and realize the inclusive development of the world economy. The Financial Times wrote that China is committed to connecting the world with the Belt and Road Initiative, which is "unprecedented in human history".

-Foreign investment has become more rational, and project contracting has been transformed and upgraded. In the first three quarters of last year, China’s foreign non-financial direct investment was 78 billion US dollars, and investment mergers and acquisitions in chemical, electric power, manufacturing, energy and other fields increased, and foreign investment in the real economy and emerging industries achieved good results; There are no new projects for foreign investment in real estate, sports and entertainment, and irrational foreign investment has been effectively curbed. In the same period, the newly signed contracts for foreign contracted projects in China amounted to US$ 168.2 billion, a year-on-year increase of 13.8%; The turnover reached US$ 102.45 billion, a year-on-year increase of 2.3%. Relevant enterprises actively promote the integrated mode of investment, construction and operation in the advantageous fields of electric power, chemical industry, railways, infrastructure, processing and manufacturing, and some projects all use China technical standards.

-The development of foreign trade benefits the whole world. In line with the trend of economic globalization, China has actively carried out economic and trade cooperation with all countries in the world on the basis of equality and mutual benefit, forming a pattern of interests blending among you and me. China insists on paying equal attention to both imports and exports, and actively expands imports while stabilizing the export market. It has become one of the largest import markets in the world, accounting for about one tenth of the global share. This year, China will hold the first International Import Expo. "Made in China" has enhanced the welfare of global consumers, and "China market" has promoted the economic development of all countries in the world.

-International capacity cooperation has progressed steadily. At present, China enterprises are building 99 overseas economic and trade cooperation zones in 44 countries and regions, with a cumulative investment of more than 30 billion US dollars and nearly 4,000 enterprises entering the zones; The taxes and fees paid to the host country amounted to nearly 3 billion US dollars, which created nearly 250,000 local jobs and effectively promoted the industrial development of the host country. The investment agglomeration effect and industrial radiation effect of overseas economic and trade cooperation zones have been further enhanced, becoming an important carrier and platform for international capacity cooperation.

At present, the prospect of world economic recovery continues to improve, and China’s economic development is improving for a long time. With the deepening of the mutually beneficial and win-win opening-up strategy, China’s investment cooperation with other countries will continue to develop in depth, and China’s foreign investment and trade cooperation will maintain a steady and healthy development momentum.

Facing challenges, promoting reform and emphasizing inclusiveness.-An advocate of building a community of human destiny.

A book, The Supreme Leader’s Talks on Governing the Country, is published in more than 20 languages in more than 160 countries and regions around the world, providing the best reading for the international community to enhance its understanding of contemporary China and the Communist Party of China (CPC). Martin Albrau, a famous British sociologist, said, "This book represents a whole set of ideological systems that can be used to establish lasting order."

This is the best time, with the continuous accumulation of material wealth and the rapid progress of science and technology; This is also the worst time, with global challenges such as terrorism and refugee tide coming one after another, and problems such as poverty, unemployment and widening income gap are plaguing the world. How can the world economy get rid of troubles and haze? Some voices attribute the problem to economic globalization, and populism and protectionism are rampant in many countries.

Old problems persist and new situations emerge one after another. How to recognize and solve them?

"Simply blaming the problems that plague the world on economic globalization is neither in line with the facts nor helpful to solve the problems." "Economic globalization has provided a strong impetus for world economic growth, promoted the flow of goods and capital, the progress of science and technology and civilization, and people-to-people exchanges." … On January 17, 2017, in Davos, Switzerland, Chairman Supreme Leader delivered a keynote speech at the opening ceremony of the 2017 annual meeting of the World Economic Forum, comprehensively expounding the essence and laws of economic globalization and getting out of the way for the world economy. China’s leaders’ dialectical global vision and China’s wisdom of knowing and doing together penetrate the undercurrent and fog and reach the hearts of the people.

"Development is the top priority and applies to all countries in the world. All countries should help each other in the same boat, not beggar their neighbors. "Economic globalization is a historical trend, which has contributed to great prosperity of trade, great convenience of investment, great mobility of people and great development of technology." On January 18, 2017, Chairman Supreme Leader delivered a keynote speech entitled "Building a Community of Human Destiny Together" at the UN headquarters in Geneva, which profoundly, comprehensively and systematically expounded the concept of a community of human destiny, explained China’s plan, and injected into promoting economic globalization.

"The concept of’ building a community of human destiny’ reveals the fact that all countries in the world are interdependent, and encourages all countries to achieve win-win results through strengthening cooperation, which conforms to the purposes and principles of the UN Charter and is crucial for the UN to promote the sustainable development goals of all countries in the world." Philip Chavos, chairman of the 55th session of the United Nations Commission for Social Development, said.

China’s thoughts on economic globalization and his efforts to improve the global economic governance system have attracted worldwide attention and been highly recognized. In the past year, from the 2017 annual meeting of the Davos World Economic Forum in January to the Beijing "Belt and Road" international cooperation summit forum in May; From the G-20 Hamburg Summit in July to the meeting of BRICS leaders in Xiamen in September, China leaders have always taken a clear-cut attitude, promoted the rebalancing of economic globalization and won the respect and recognition of the world.

Hajri Turk, an American scholar, said that the world is witnessing the failure of the western liberal economic order. Now many countries look to the east, and China has a set of plans to promote the development and progress of all parties.

China’s efforts do not stop there. Years of exploration and accumulation are gradually turning into positive energy to improve global economic governance.

In order to promote economic globalization to be more inclusive and balanced, it has become a global consensus to reform the original internationalization platform. "In 2010, the IMF’s share reform plan has come into effect, and this momentum should be maintained." In the process of actively promoting the reform of existing international financial institutions and maintaining and providing the right to speak and representation of China and emerging market countries in the global economic and financial system, China has always been consistent.

Propose the establishment of an Asian infrastructure investment bank, jointly establish a BRICS New Development Bank with BRICS countries, and invest in the establishment of the Silk Road Fund … In the process of providing public goods for the construction of an open world economy, China keeps moving forward.

Actively safeguard the status of the World Trade Organization as the main channel of the multilateral system of world trade, and seek to negotiate and sign bilateral or regional trade agreements with relevant trading partners … In the process of promoting trade and investment facilitation, China has never stopped.

In the process of improving global economic governance, China’s unique demeanor is equally eye-catching.

"No matter how developed China is, it will never seek hegemony or expand." "China adheres to the concept of global governance, advocates the democratization of international relations, and insists that all countries, big or small, strong or weak, rich or poor, are equal" …

These hit the floor’s initiatives and declarations conform to the trend of the times, reflect the mind of a big country, and reflect the ideological realm and demeanor completely different from isolationism and closedness. The initiative and practice of building a community of human destiny have provided a strong guarantee for the more sustained and stable growth of the world economy.