H2 recovery to maintain momentum, say experts

China's economic growth remains robust, to which regional economic cooperation renders strong support, said domestic and foreign experts and officials at the 2023 Euro-Asia Economic Forum held in Xi'an, Shaanxi province, on Friday.

Zhang Yuyan, chairman of the National Institute for Global Strategy at the Chinese Academy of Social Sciences, said that the Chinese economy has been recovering steadily since the country eased the COVID-19 control measures, with confidence that further recovery will follow.

He listed a few risks and issues that the world economy faces, such as trade protectionism and climate change. Despite facing these challenges, the Chinese economy will continue to be a main contributor to the world economy following its gradual recovery, he said, calling for deepening regional economic cooperation so that different economies could enhance the productivity of all by furthering the division of labor.

Ye Niuping, mayor of Xi'an, where the forum was hosted, said that the economic recovery comes in the shape of a wave. He took Xi'an as an example, which has 14 million permanent residents and a huge tourist flow, showing a robust domestic need that supports economic growth.

In the first half of 2023, the number of small and medium-sized tech enterprises had grown by 3,438 or 40 percent compared with that of last year. Ye said the advanced manufacturing industry will be a key growth point of the city, a scenario that is only part of the nation's economic picture.

"I was surprised to see what China achieved in the past 10 years," said Chan Young Bang, founder and president of KIMEP University in Almaty, Kazakhstan and former economic advisor to the Kazakhstan president, who delivered a speech at the Think Tank Parallel Session of the forum, and spoke highly of China's economic achievements in the New Era. He stressed the role of the Belt and Road Initiative in China's achievements. "In many ways, the BRI confirms the widely accepted view that the 21st century belongs to China."

zhangzhouxiang@chinadaily.com.cn