Profits of a robust Chinese economy

CHINESE Ambassador to Britain Liu Xiaoming said on Monday that the Chinese economy that remains robust will bring further opportunities to the whole world. In a signed piece on Daily Telegraph, Liu said that China’s economy is growing at a medium-to-high speed but remains robust.

“Despite some frictions, China-US trade and economic cooperation show enormous potential and resilience,” he said.

China, which remains the world’s biggest trader in goods, is opening its doors wider to the outside world.

The senior diplomat said that his country’s shift from high-speed to high-quality growth has greatly improved the efficiency of growth.

“New growth engines represented by new industries, products and business models keep emerging, with an average of more than 18,000 new enterprises established every day and online retail sales increasing by more than 20 per cent,” he said.

Liu stressed that growth has become greener in China. As the biggest engine for global growth for many years, China was the fastest growing among the top five economies in 2018 and contributed nearly 30 percent to global growth.

Liu said China will bring more opportunities to the world in the future.

He said with a population of close to 1.4 billion, China will be a source of tremendous spending power, a broad market with huge opportunities for products and services from other countries, including Britain.

“In sectors such as banking, insurance, securities, auto manufacturing and shipbuilding, China is lifting or easing restrictions on foreign ownership in jointventure firms, which is an invitation to share in China’s development benefits,” he said.

(Xinhua)