The long-term trajectory of the Chinese economy remains steadfast, according to a recent government work report submitted to the national legislature.
The report highlights significant global economic headwinds, including sluggish growth momentum, rising unilateralism, and increasing protectionism. These factors have led to a blockage of the multilateral trading system and the escalation of tariff barriers, destabilizing global industrial and supply chains and disrupting the international economic cycle.
Despite these challenges, the report emphasizes the need to bolster confidence in development. It underscores China's substantial institutional advantages, such as a vast domestic market, a comprehensive industrial system, and abundant human resources, which position the nation to navigate and sustain its economic growth.
Reference(s):
cgtn.com
