In a compelling keynote speech at the China Development Forum 2024 in Beijing, Chinese Premier Li Qiang underscored the vast economic potential of the Chinese mainland. Addressing a diverse audience that included international scholars, entrepreneurs, and government officials, Li provided a comprehensive assessment of China's economic状况and future prospects.
Economic Momentum Growing
Premier Li emphasized that the recovery of the Chinese economy is gaining strength, with the latest GDP figures reflecting a 5.2 percent growth last year. This achievement not only met the government's targets but also positioned China as one of the world's fastest-growing major economies, with an economic aggregate exceeding 126 trillion yuan (approximately $17.6 trillion).
Highlighting China's significant role in the global economy, Li noted that the country contributes around 30 percent to world economic growth and maintains its status as the largest nation in global trade in goods. He pointed to the rapid growth of new economic drivers, including strategic emerging industries and a burgeoning digital economy, which now exceeds 50 trillion yuan.
Li also showcased China's advancements in science and technology, mentioning that the nation hosts 24 of the world's top 100 sci-tech innovation clusters and half of the world's new renewable energy generation units. \"The accelerated growth and application of new technologies has not only led the transformation and upgrading of China's economy but also strongly supported global green development,\" he stated.
More High-Quality Development
The premier expressed strong confidence in China's development trajectory, citing institutional strengths, a comprehensive industrial system, a skilled workforce, and increasing sci-tech innovation capacity as key advantages. He outlined the government's strategy for high-quality development, which includes macro-policy adjustments, expanding domestic demand, and promoting urbanization and industrial upgrades.
Li assured global entrepreneurs and investors that China remains a resilient and dynamic market, with a population exceeding 1.4 billion and a continuously expanding middle-income group. He highlighted the vibrant economic activities during the Spring Festival, where cross-regional personnel flows reached 2.29 billion, online payment transactions surpassed 10 trillion yuan, and domestic tourism saw a significant year-on-year increase.
Concluding his speech, Premier Li reiterated China's commitment to deepening reforms, enhancing government services, protecting the rights of enterprises, and creating a market-oriented, law-based international business environment by removing restrictions on foreign investment in the manufacturing sector. \"We believe a more open China will bring more opportunities for win-win cooperation to the world,\" he affirmed.
The China Development Forum, now in its 24th edition, serves as a crucial platform for discussing China's role in the global economy. This year's theme, \"The Continuous Development of China,\" focused on new economic drivers and global opportunities, attracting over 400 attendees, including World Bank President Ajay Banga and International Monetary Fund Managing Director Kristalina Georgieva.
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Premier Li stresses China's economic potential at forum in Beijing
cgtn.com
