China economic restructuring world's growth momentum: economist

Wang Yiming, vice president of the Development Research Center of China's State Council (Cabinet), addresses the economic summit of the China Development Forum 2017 in Beijing on March 18, 2017. [Photo/Xinhua]

BEIJING - The ongoing Chinese economic restructuring is conducive to reducing uncertainty for the world economy and injecting fresh growth momentum into the global economic recovery, according to a Chinese economist.

"China has been an active participant in and facilitator of globalization," Wang Yiming, deputy director of the Development Research Center of the State Council, the cabinet, said Saturday at the China Development Forum 2017 held in Beijing.

Chinese economy is transitioning to a "world market" from a "world factory," and will buttress global market demand in goods and service trade, Wang said.

China continues to increase investment in innovation and human resources, which change distribution of the global value chain, he added.

"More Chinese companies are going global, which will inject vitality into anemic global investment and trade and create more job opportunities, " Wang said.

China's non-financial outbound direct investment (ODI) in 2016 soared 44.1 percent year on year to $170 billion.