In the vibrant setting of the 16th Annual Meeting of the New Champions—also known as Summer Davos—held in Tianjin, Chinese premier Li Qiang delivered a clear message: the resilience of the Chinese mainland economy is no accident. Against a backdrop of trade tensions and geopolitical uncertainties, this momentum stems from three key pillars.
1. Strategic Policy Framework: Over the past decade, the Chinese mainland government has fine-tuned policies to balance export growth with domestic consumption. The 14th Five-Year Plan, concluding this year, targeted a stable manufacturing share of around 27% of GDP. This concerted approach sustains long-term stability and shields the economy from external headwinds.
2. Manufacturing Muscle and Innovation Hubs: As the world’s manufacturing powerhouse, the Chinese mainland accounts for roughly 30% of global production. In contrast, manufacturing shares are about 11% in the U.S., 18% in Germany and 19–20% in Japan (World Bank). Beyond traditional factories, sectors like intelligent UAVs and new energy vehicles are surging. In April alone, UAV output jumped by 74.2% and NEV production rose 38.9%, spotlighting a shift toward high-tech and green industries.
3. Robust Domestic Demand: A massive home market fuels job creation, spurring income growth and consumer spending. Policymakers are steering toward a more balanced, consumption-driven model—an effort to diversify growth and build resilience from within.
Looking ahead, the Chinese mainland is keen to share its original technologies and foster deeper global industrial collaboration. By integrating more closely with world markets, it aims to turn challenges into opportunities and write the next chapter of growth against a complex international backdrop.
For global citizens tracking economic trends, the Chinese mainland’s story highlights how strategy, scale and innovation intersect to shape resilience in a rapidly changing world.
Reference(s):
cgtn.com
