Chinese economy blessed with huge staying power
Updated: 2015-11-21 09:48
By Ding Yifan(China Daily)
|
||||||||
Also, since its economic growth will rely more on innovation, technological innovation in particular, China will not only offer development opportunities to Chinese high-tech enterprises but also attract some foreign high-tech innovative enterprises.
Besides, it has become difficult for many innovative minds to find opportunities in developed economies for new products, because large multinationals control the technologies and are unwilling to let them enter the market for fear of competition with the existing technologies. People who believe this to be an unfair practice and want such products to hit the market will be attracted by China's huge market to realize their dreams. And they will be precious human resources for China to develop an innovative economy.
China's overseas investment has grown sharply in recent years, suggesting there is huge demand in China for international industrial cooperation. China's Silk Road Economic Belt and 21st Century Maritime Silk Road proposals are welcomed by the economies along the two routes. And China's overseas investment and foreign trade have increased with the implementation of the Belt and Road Initiative.
Although its economic growth is declining, China is still making the largest contribution-expected to be 30 percent this year-to global growth. China is still the world's largest importer of resources and energy.
China has set up industrial parks in many economies, which have helped their industrialization process. These economies could soon supply more low-priced products to the world market and thus offset the impact of the huge liquidity released by the central banks of developed countries, reduce inflation rates across the world and help boost global growth.
The author is deputy director of the Research Institute of World Development, China Development Research Center. Courtesy: chinausfocus.com
- Global health entering new era: WHO chief
- Brazil's planning minister steps aside after recordings revelation
- Vietnam, US adopt joint statement on advancing comprehensive partnership
- European border closures 'inhumane': UN refugee agency
- Japan's foreign minister calls A-bombings extremely regrettable
- Fukushima impact unprecedented for oceans: US expert
- Stars of Lijiang River: Elderly brothers with white beards
- Wealthy Chinese children paying money to learn British manners
- Military-style wedding: Fighter jets, grooms in dashing uniforms
- Striking photos around the world: May 16 - May 22
- Robots help elderly in nursing home in east China
- Hanging in the air: Chongqing holds rescue drill
- 2.1-ton tofu finishes in two hours in central China
- Six things you may not know about Grain Buds
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
Marriott unlikely to top Anbang offer for Starwood: Observers
Chinese biopharma debuts on Nasdaq
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
US Weekly
Geared to go |
The place to be |