Aerial photo taken on Dec. 5, 2021 shows the sunrise scenery of Yangpu International Container Port in Yangpu Economic Development Zone, south China’s Hainan Province. (Xinhua/Pu Xiaoxu)
BEIJING, March 23 (Xinhua) — Amid sweeping changes not seen in a century, the global economy is experiencing a weak and uneven recovery, and the world is calling for practical actions to reinvigorate the global economy and move it forward.
Under the guidance of “Xiconomics”, the economic philosophy of Chinese President Xi Jinping, China has worked tirelessly to support the real economy, enhance its innovation capability and strengthen practical cooperation with the rest of the world, which has further consolidated the foundations of the country’s economy and improved its anti-risk capability.
China’s solid growth has not only served as a stabilizer and engine for the global economy, but also inspired other countries to revive economies, boost development and achieve strong and sustainable growth.
With a strong emphasis on production, manufacturing and innovation, Xi’s economic thinking is giving impetus to global growth that struggles with many uncertainties.
Employees work at a Sany Group smart factory in Liangjiang New Area in Chongqing, southwest China, July 19, 2021. (Xinhua/Xu Qin)
STRONG SUPPORT FOR THE REAL ECONOMY
“The real economy is the foundation of a country’s economy and its source of wealth. Advanced manufacturing is a key area of the real economy, and economic development cannot at any time be separated from the economy. real,” Xi said during his inspection tour of China. in southern Guangdong province in 2018.
The Chinese president has repeatedly stressed the importance of supporting the real economy, setting a clear direction for China’s economic development and enlightening the international community on global growth. His thoughts hold special significance in the context of the devastating COVID-19 pandemic.
In the first months after the start of the pandemic, many Chinese companies, including automakers and energy companies, transformed their businesses to meet the growing demand both at home and abroad for the products. antivirus, including masks and sanitizers, contributing to the stable functioning of global supply chains.
These reflected the different roles the real economy plays in China and Western countries, foreign observers said.
As the world’s largest manufacturing nation, largest trader of goods and second largest consumer of goods, China has contributed more than 30 percent to global economic growth in recent years and has withstood the difficult test brought on by the pandemic.
Under Xi’s leadership, China became the only major economy to see positive growth in 2020, a demonstration of the vitality and resilience of the country’s economy amid the global public health crisis. In 2021, China’s gross domestic product recorded an 8.1 percent year-on-year increase, topping 110 trillion yuan ($17.3 trillion) and beating most market expectations.
Estimated to represent more than 18% of the global economy in 2021, the Chinese economy occupies an increasingly important position in global development.
Wichai Kinchong Choi, senior vice president of Thailand’s leading bank Kasikornbank, told Xinhua that China has played a crucial and irreplaceable role in supporting the global supply chain.
“China’s comprehensive advantages, such as large and promising market, abundant human resources, solid infrastructure and complete industrial facilities, make it attractive for foreign investment,” the banker said.
Aerial photo taken on Jan. 27, 2021 shows the outside view of nuclear power plants of China National Nuclear Corporation (CNNC) in Fuqing, southeast China’s Fujian Province. China’s first nuclear power plant using Hualong One, a nationally designed third-generation nuclear reactor, has entered commercial operation, CNNC announced on Jan. 30, 2021. (Xinhua/Lin Shanchuan)
IMPROVE INNOVATION CAPACITY
“A new round of technological revolution and industrial transformation is accelerating, and science and technology are playing an even greater role in boosting social productivity,” Xi said in a video keynote address at the event. of the APEC CEO Dialogues in 2020.
With Xi’s deep understanding of changes at different stages of development, China has firmly implemented its new development philosophy characterized by innovative, coordinated, green, open and shared growth, and strived to change its growth model, bringing China’s wisdom and strength to global development. economic transformation and development.
Located on a steppe surrounding a hill near the town of Zhanatas in the Zhambyl region of southern Kazakhstan, a Chinese-built wind farm, the largest in Central Asia, is the living embodiment of how innovation China has improved the lives of local people. The project not only alleviated the electricity shortage in Kazakhstan, but also increased local tax revenue.
From “made in China” to “created in China”, the country is accelerating its pace towards the medium and high end of industrial and value chains. In February, China’s Hualong One, a third-generation nuclear reactor of national design, was confirmed suitable for use in Britain, which is of vital importance for the island country to compensate for its energy shortage and strengthen its economy.
Meanwhile, China is taking the lead in integrating the digital economy with the real economy. Leveraging new technologies such as cloud computing, e-commerce and fintech, China is playing an active role in facilitating regional and global trade.
In Southeast Asia, the joint construction of a “Digital Silk Road” continues to gain momentum as China and the Association of Southeast Asian Nations (ASEAN) expand their cooperation in emerging areas such as smart city, 5G and big data.
According to ASEAN Secretary General Lim Jock Hoi, with the flourishing digital cooperation between China and ASEAN, the regional bloc’s digital economy is expected to grow from 1.3 percent of its gross domestic product in 2015 to 8, 5% in 2025.
China, a country striving to intensify innovation and pursue high-quality development, will certainly create more opportunities for cooperation and bring more tangible benefits to others.
Aerial photo taken on Nov. 12, 2021 shows the Eighth Cambodia-China Friendship Bridge in Cambodia. (Photo by Ly Lay/Xinhua)
STRENGTHENING PRACTICAL COOPERATION
Gazing at the newly constructed bridge spanning the Mekong River, Da Danuch, a 31-year-old Cambodian civil servant, could hardly contain her excitement.
“It used to take at least an hour to an hour and a half to cross the river by ferry, but it’s convenient now because we have the bridge, and it takes less than five minutes to cross the river,” he said. she explains.
The Chinese-built Stueng Trang-Kroch Chhmar Cambodia-China Friendship Bridge entered service at the end of 2021, greatly facilitating cross-river transportation and business. This is a significant achievement under the Belt and Road Initiative, and also illustrates China’s commitment to deepening practical cooperation with the rest of the world for joint development.
Cooperation between China and its partners has not only upgraded local infrastructure and improved workers’ skills, but also advanced cultural and people-to-people exchanges.
In a classroom in Guinea-Bissau, West Africa, students raised their hands, vying for the chance to answer questions from Chinese agricultural technicians.
This was an agricultural machinery training course conducted by a team of Chinese technical experts. Over the past two decades, teams of Chinese experts have trained more than 22,000 people there with technical skills, which has given a big boost to the country’s agricultural development.
“China will promote high-quality Belt and Road cooperation so that more countries and peoples can benefit from its development opportunities and real results,” Xi said at the opening ceremony. of the Fourth China International Import Expo in November 2021. His remarks demonstrated China’s sincerity. willingness to share the fruits of development with countries around the world.
Under the leadership of Xiconomics, China continues to grow while ensuring stability and expanding practical cooperation with partners to bring the benefits of its development to countries around the world, which has instilled confidence in the global economy.
(Xinhua writers Wu Changwei and Mao Pengfei in Phnom Penh, Song Yu in Bangkok, Zhang Jiye in Nur-sultan, Wang Zizheng in Dakar, Sun Xiaoling in London and Wang Jiawei in Beijing contributed to this story.)■