What contribution has the Chinese economy made to the world?

BEIJING, Jan. 5, 2018 /PRNewswire/ -- A news report by China.org.cn on how did Chinese economy contribute about one-third of global growth in 2017:

The Chinese economy alone contributed about one-third of global growth in 2017, according to the World Economic Situation and Prospects 2018 released last month by the United Nations. China's GDP growth is expected to be around 6.8 percent in 2017, according to a number of domestic and foreign research institutes.

The contribution of the Chinese economy to the world is mainly reflected by products "Made in China". For example, two-thirds of the ornaments used in the West during each year's Christmas celebration come from Yiwu, a trading city in the middle part of Zhejiang Province. Unlike in the past, supply-side structural reform has been driving manufacturing upgrading, thus enabling China to offer higher quality products to the world. The first half of 2017 witnessed a surge of 93.4 percent in exports of drones, for example. There was a rise of 32.5 percent in automobile exports, and a considerable increase in the export of other high value-added products such as mechanical and electronic equipment for manufacturing. By providing medium and high-end products of high quality and reasonable prices, China is delivering larger dividends to the world.

In recent years, many foreign media have been paying attention to China's advances in science and technology. World-leading technologies, including the mobile internet, artificial intelligence and Big Data, are serving not only as new drivers of China's growth but also contributing to global scientific and technological progress. Meanwhile, China's telecommunications, computer and information services are being exported, creating new miracles of economic development in other developing economies including Africa.

On the other hand, China's vast market and economic vitality have created huge demand for the goods of other countries.

Today, world economic growth remains sluggish and the trend of de-globalization is growing. The Belt and Road Initiative and other public goods, offered by China to the world, has greatly promoted international trade and investment and, at the same time, provided guidance for economic globalization. In 2017, China announced an additional 100-billion-yuan investment in the Silk Road Fund, and, in the first 11 months of the year, China invested more than 12 billion U.S. dollars in countries along the Belt and Road, making an important contribution to world economic development.

There has been continued pessimistic talk regarding China's economic development. There are also worries and fears that disasters will possibly be inflicted on the world economy by such a large entity as China once it gets into a period of high risk. However, China's performance has never let the world down. The Central Economic Work Conference recently held in Beijing stressed high-quality development, sending a clear message that China continues to be a main driver powering world economic growth and plays a stabilizing role in world economic development. The dividends of China's economic development will continue to be shared by the world.

China Mosaic

What contribution has the Chinese economy made to the world?

About China.org.cn

Founded in 2000, China Internet Information Center (China.org.cn/China.com.cn) is a key state news website under the auspices of the State Council Information Office, and is managed by China International Publishing Group. We provide round-the-clock news service in ten languages. With users from more than 200 countries and regions, we have become China's leading multi-lingual news outlet introducing the country to the outside world.

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