File photo: VCG

 

Substantial progress has been made in various areas during the latest round of high-level trade consultations between China and the US that laid the foundation of an agreement between the two countries, Chinese Vice Premier Liu He said during his Saturday speech at the 2019 World Conference on VR Industry, in East China's Jiangxi Province.

This has been the Chinese side's most clear and authoritative remarks so far on progress of China-US trade talks. Liu reiterated that China is willing to work together with the US to properly address each other's concerns.

During Liu's speech, he has also analyzed the macroeconomic situation of China and put a focus on the characteristics of the Chinese economy and the importance of accelerating the economic transition. 

China's per capita GDP is approaching $10,000. The country is enjoying the advantage of demand originated from its huge number of middle-class families and mature domestic market, as well as the advantage of supply due to accelerated upgrade of the industrial system, including a boom of emerging industries. 

China is confident and capable of reaching its macroeconomic goals, Liu noted, saying the country has a vital microeconomic foundation, a big room for maneuver and sufficient measures of macro-policy. 

Liu's remarks threw light on the Chinese macroeconomic situation and the progress of China-US trade consultations, which are people's concerns, and showed that the Chinese government has been keeping its feet on the ground when handling economic issues. 

Unlike the Western system, which is guided by moral and value competition, the Chinese system focuses on solving problems. The rotation of political parties in the West determines that the parties consider their reputation in the first place when they are debating about problems. Chinese system makes it possible for the Chinese government to make long-term road maps without fear of pointing out problems in any economic plan. 

There have been problems, especially economic challenges, constantly appearing in different stages of China's development. However, objectively viewing, China has also updated its methods, leading to increasing capabilities to deal with the problems. 

China hasn't accurately quantified what challenges it has been through but such experience has become a fountain of confidence for the people. 

Economic problems and challenges have formed the so-called downward pressure that China faces. Actually, it is China's economic growth rate rather than the economy that is going downward. Its influence is controllable.

Based on its huge potential of development, China has plenty of measures to deal with the downward pressure. Such being the case, China has been calmly facing challenges without any restlessness. 

Only an enterprising country can find and never get around problems, figure way out for problems and keep its people confident and patient in dealing with challenges. China has been not only uncovering problems but also vowing to overcome them. More importantly, Chinese people are striving for a better life, and thus becoming the strongest support and impetus of China in its advancement.