The recently concluded central economic work conference required that the first step in building a new development pattern should be taken next year to see a new atmosphere. As the second largest economy in the world and the only major economy in the world to achieve positive economic growth this year, China will build a new development pattern and promote reform and opening up at a higher starting point, which will provide a broader market and more new opportunities for development for all countries in the world.
New opportunities come from the continuous release of consumption potential. China has a huge market of 1.4 billion people, which is an important engine to drive global economic growth. As of November, Japan's exports to China have maintained positive growth for five consecutive months; Zeiss AG's operating revenue in China in the latest fiscal year reached 8billion yuan, which makes China surpass the United States and Germany and become the largest market of Zeiss Ag in the world... A report predicts that China's middle-income group will reach 800million in the next 15 years, with strong consumption upgrading momentum and great potential.
The meeting proposed "adhering to the strategic basis of expanding domestic demand", stressing that "effective institutional arrangements must be made in reasonably guiding consumption, savings, investment and other aspects", and made supporting policy arrangements such as expanding consumption, promoting employment, and increasing investment. Ding Ke, a researcher at Japan's Asian Economic Research Institute, believed that the meeting proposed to adhere to expanding domestic demand, pay attention to demand side management, optimize the income distribution structure, and expand middle-income groups, which are very critical to China's formation of a strong domestic market and Realization of high-quality development.
New opportunities come from the firm pace of opening up. China adheres to the opening-up strategy of mutual benefit and win-win results, continues to promote the expansion of opening-up, strives to improve the investment and business environment, and significantly reduces foreign investment access restrictions. It is one of the most popular destinations for foreign investment in the world. This year, global cross-border investment has been hit hard by the epidemic, but China's actual use of foreign capital has shown a steady and positive trend, becoming one of the few major economies in the world that have attracted foreign capital and maintained growth. Bloomberg News reported that international investment giants are optimistic about China's huge opportunities and have launched new strategies focusing on China. Morgan Stanley Asia Pacific executives said that Morgan Stanley was "a huge beneficiary of this openness".
This meeting stressed the need to "comprehensively promote reform and opening up", proposed "strengthen international macro policy coordination", "create a market-oriented, rule of law and international business environment", "actively consider joining the comprehensive and progressive trans Pacific Partnership Agreement"... A series of clear and powerful policy signals, showing China's determination to implement "wider scope, wider areas and deeper opening-up". Yu Hong, a senior researcher at the Institute of East Asian Studies at the National University of Singapore, said that China's comprehensive promotion of reform and opening up and the attraction of more foreign investment through improving the business environment would help China's economic development and contribute to the recovery of the world economy.
New opportunities come from innovation driven development strategies. Innovation plays a central role in the overall situation of China's modernization drive, and is the key to solving the problem of unbalanced and insufficient development and promoting high-quality development. This meeting will take strengthening national strategic scientific and technological forces as the first priority of next year. In the future, with the continuous enhancement of new driving forces for China's innovation and development and the rapid growth of new industries, the vitality of China's economy will further burst out, thereby effectively promoting global growth.
International Data Corporation recently released a report predicting that China will account for 15.6% of the global AI market in 2024, becoming an important driving force for global market growth. Saudi Arabia's Finance Minister Mohammed jadan said that with Saudi Arabia's expansion of digital services to the whole country, many Chinese enterprises have helped the country's development in 5g and other fields. "We attach great importance to our Chinese partners and hope to expand our cooperative relations in the process of further developing the digital economy."
China cannot develop without the world, and the prosperity of the world also needs China. As China embarks on a new journey of building a modern socialist country in an all-round way, the high-quality development of China's economy is bound to inject more confidence and vitality into the world in the post epidemic era. (reporter Li Jie)
Source: Xinhua News Agency