Workers debug intelligent robotic arms at a factory in Ningde, East China’s Fujian Province on March 8, 2023. China is moving to promote the high-quality development of its manufacturing sector, amid efforts to advance new industrialization. Photo: cnsphoto

Chinese Embassy in France on Sunday published an article on its official website refuting Western media's baseless allegation concerning China's potential "economic risks."

The article said China's GDP growth rate hit 5.5 percent year-on-year in the first half of 2023, exceeding the annual increase rate of 2022 and other major economies, and the thriving consumer market reflected a broad-based economic recovery.

Amid weakened global demand, China's foreign trade still showed resilience as exports in the first seven months of 2023 remained stable recording a 1.5 percent year-on-year increase, while NEVs, lithium batteries and solar panels exports maintained strong momentum, said the article.

The article noted that real estate sector was transitioning from a phase of rapid development to relatively steady and healthy growth. Some short-term issues such as some developers' debt risks will be fixed as more supportive government measures enter effect, boosting investment confidence.

The embassy reaffirmed that China remains the engine of global economy growth, as the second quarter GDP far surpassed Western countries, while manufacturing PMI was above the global average during the first seven months of the year.

The World Economic Outlook published by the IMF forecast China's GDP growth in 2023 to reach 5.2 percent, one of the highest figures among global economies, with China representing one third of global economic growth.

The article noted that China will remain committed to its strategy focused on high-quality development based on targeted policies, ensuring China remained a pillar of the global economy.

Global Times