SOURCE / ECONOMY
China is stabilizer, driving force for global growth: FM spokesperson
Published: Sep 20, 2022 05:18 PM Updated: Sep 20, 2022 05:13 PM
Chinese Foreign Ministry Spokesperson Wang Wenbin Photo: VCG

Chinese Foreign Ministry Spokesperson Wang Wenbin Photo: VCG


China is a stabilizer and driving force for global economic growth, a Chinese foreign ministry spokesperson said on Tuesday, citing the economic achievements attained by the country over the past decade.

From 2013 to 2021, China's GDP grew at an average annualized rate of 6.6 percent, higher than the global average of 2.6 percent and 3.7 percent for the developing economies during the same period, according to a report issued by the National Bureau of Statistics, which consolidated the economic and social development of China since the 18th National Congress of the Communist Party of China in 2012.

China's economic size accounted for 18.5 percent of the global economy in 2021, up 7.2 percentage points from 2012, according to the report.

The figures fully shows that China is a stabilizer and a driving force for global economic growth against the background of adverse trends in economic globalization, the rise of unilateralism and protectionism, Chinese foreign ministry spokesperson Wang Wenbin said.

Wang noted that in the face of difficulties and challenges, China firmly believes that openness and cooperation is the direction of history and mutual-benefit and win-win results are the aspiration of the people. 

“We have been adhering to a broader, deeper and wider opening to the outside world and promoting trade and investment liberalization, to make China a shared market for the whole world and inject more momentum into the global economic recovery and ongoing stability,” Wang said.

Foreign direct investment (FDI) into the Chinese mainland, in actual use terms, increased 20.2 percent year on year to $138.41 billion in dollar terms for the first eight months of the year, the Ministry of Commerce said, underscoring foreign investors' continued confidence in the Chinese economy.

Specifically, FDI in high-tech manufacturing rose 43.1 percent from the same period a year ago, while that in the high-tech service sector surged 31 percent.

During this period, investment from South Korea, Germany, Japan, and the UK climbed by 58.9 percent, 30.3 percent, 26.8 percent, and 17.2 percent, respectively.

In the future, China will not close its doors to the outside world, but will open even wider, Wang said.

“China is ready to work with other countries in the spirit of openness, inclusiveness, mutual benefit and win-win cooperation to expand practical cooperation in various fields so that other countries can better share China's development opportunities,” Wang said.

Global Times