A recent report unveiled in Beijing highlights how China's comprehensive economic reforms are not only driving its own modernization but also fueling global economic growth. The study, titled \"Deepening Reform Comprehensively to Advance Chinese Modernization: Major Achievements and Global Contributions,\" was released by prominent think tanks under the Institute of Party History and Literature of the Communist Party of China Central Committee and Xinhua News Agency.
According to the report, China's steadfast commitment to reform has significantly boosted both its domestic development and the worldwide economy. Amid a period of global economic sluggishness, China has emerged as a vital source of positive momentum, with its share of the global economy steadily increasing each year since 2012. From 2013 to 2021, China's average contribution to global economic growth consistently ranked first, even surpassing the combined efforts of the Group of Seven (G7) nations.
The report emphasizes that China's dynamic and efficient economy is set to become a primary driver of global growth. This momentum is largely attributed to the country's deepening reforms, which have propelled not only national progress but also international economic development.
Highlighting China's advancements in technology and green products, the report points to the booming export of electric vehicles (EVs), solar batteries, and lithium-ion batteries—the so-called \"new three.\" These innovations have enriched global supply chains, alleviated inflation pressures, and accelerated the global shift towards sustainability.
China has adeptly capitalized on the latest industrial revolution, fostering high-quality productive forces through vibrant market activities and seamless resource allocation. This has positioned China as a cornerstone of the global innovation landscape, evidenced by its standing as the highest-ranking middle-income economy on the Global Innovation Index.
The widespread adoption of Chinese technological innovations has enhanced daily life across various countries, underscoring China's role in advancing global economic growth and human development. Moreover, China remains dedicated to promoting inclusive and balanced economic globalization, offering robust platforms for international cooperation through initiatives like the Belt and Road Initiative, the Asian Infrastructure Investment Bank, and major international expos such as the China International Import Expo and the Canton Fair.
These efforts have amplified the voices of emerging markets and developing countries, ensuring they receive greater attention and consideration on the global stage. As China continues to deepen its reforms, its contributions are expected to further bolster global economic resilience and foster sustainable development worldwide.
Reference(s):
New report details how Chinese reforms propel global economic growth
cgtn.com
