China will con­tinue to make its con­tri­bu­tion

China Daily (USA) - - COMMENT EDITORIAL • OPINION -

The prepa­ra­tions for the 19th Na­tional Con­gress of the Com­mu­nist Party of China are in full swing, and the event is draw­ing the at­ten­tion of the whole world. Not only be­cause it will her­ald some new faces among the coun­try’s top lead­ers, but also be­cause it will out­line poli­cies to chart China’s growth over the com­ing years. As proved over the past five years, a sta­ble and pros­per­ous China mat­ters for both the coun­try and the world. Amid a time of lin­ger­ing global eco­nomic re­ces­sion, China has re­mained the world’s ma­jor eco­nomic engine — con­tribut­ing onethird of global growth — de­spite its re­struc­tur­ing pains rang­ing from cut­ting ex­cess pro­duc­tion ca­pac­ity to con­tain­ing lever­age and as­set bub­bles.

It is also work­ing to­gether with other coun­tries to pro­mote in­clu­sive and in­ter­con­nected growth for shared pros­per­ity, con­tribut­ing its wis­dom and prac­ti­cal so­lu­tions to help build an open global econ­omy.

It has rolled out a new model for achiev­ing win-win co­op­er­a­tion, the Belt and Road Ini­tia­tive, which seeks to in­te­grate bi­lat­eral eco­nomic and trade co­op­er­a­tion with mul­ti­lat­eral and re­gional part­ner­ships, and it has es­tab­lished in­sti­tu­tional plat­forms such as the Asian In­fra­struc­ture In­vest­ment Bank and Silk Road Fund to help fund greater con­nec­tiv­ity.

China has also played a piv­otal role in driv­ing re­gional growth by push­ing ahead with pro­pos­als to es­tab­lish the Re­gional Com­pre­hen­sive Eco­nomic Part­ner­ship and a Free Trade Area of the Asia-Pa­cific as in­sti­tu­tional mech­a­nisms to safe­guard free trade in the re­gion.

China’s suc­cess in find­ing a dy­namic de­vel­op­ment path has also greatly ben­e­fited other de­vel­op­ing economies by pro­vid­ing rel­e­vant ex­pe­ri­ences and prac­ti­cal as­sis­tance.

For in­stance, its ex­emp­tion of debts to some African na­tions as well as its mas­sive in­vest­ment in the con­ti­nent — which has strength­ened in­fra­struc­ture and cre­ated job op­por­tu­ni­ties — has helped boost African growth.

As a ben­e­fi­ciary and par­tic­i­pant of free trade and glob­al­iza­tion, China will con­tinue to cham­pion glob­al­iza­tion and play a lead­ing role in ad­vo­cat­ing and pro­mot­ing free trade de­spite the lurch to­ward pro­tec­tion­ism in the West. As Pres­i­dent Xi Jin­ping said at the Davos World Eco­nomic Fo­rum in early Jan­uary, boost­ing open economies is a rem­edy for the global slug­gish­ness.

China’s will­ing­ness to shoul­der its re­spon­si­bil­i­ties in re­sponse to global chal­lenges was fully demon­strated at last year’s G20 sum­mit in Hangzhou. As the host, China widened the par­tic­i­pa­tion and worked hard to cre­ate con­sen­sus. Its ef­forts re­sulted in a num­ber of im­por­tant out­comes that will help im­prove global gov­er­nance.

That com­mit­ment to ad­dress­ing global chal­lenges with con­certed ef­forts will un­doubt­edly be reaf­firmed at the up­com­ing 19th CPC Na­tional Con­gress.

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