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The Central Economic Work Conference, which concluded a few days ago, requested that the first step in building a new development pattern should be taken next year to see a new look. As the world's second largest economy and the only major economy in the world that has achieved positive economic growth this year, China has built a new development pattern and promoted reform and opening up at a higher starting point, which will provide countries around the world with a broader market and more development opportunities. opportunity.
New opportunities come from the continuously released consumption potential. China has a large-scale market with a population of 1.4 billion and is an important engine driving global economic growth. As of November, Japan’s exports to China have maintained positive growth for 5 consecutive months; Germany’s Zeiss’s operating income in China’s latest fiscal year has reached 8 billion yuan, which makes China surpass the United States and Germany and become the largest market for Zeiss in the world ...A report predicts that in the next 15 years, China's middle-income group will reach 800 million, with strong momentum and huge potential for consumption upgrades.
This meeting put forward "adhering to the strategic basis of expanding domestic demand", emphasizing that "effective institutional arrangements must be made to rationally guide consumption, savings, investment, etc.", and make supporting policy arrangements such as expanding consumption, promoting employment, and increasing investment. Ding Ke, a researcher at the Institute of Asian Economics in Japan, believes that the meeting proposed to insist on expanding domestic demand, focusing on demand-side management, optimizing the income distribution structure, and expanding the middle-income group. These are very important for China to form a strong domestic market and achieve high-quality development.
New opportunities come from the firm pace of expanding opening up. China adheres to the mutually beneficial and win-win opening strategy, continues to promote the expansion of opening up, strives to improve the investment and business environment, and significantly reduces restrictions on foreign investment access. It is one of the most popular foreign investment destinations in the world. This year, global cross-border investment has been hit hard by the epidemic, but China's actual use of foreign capital has shown a steady and positive trend, becoming one of the few major economies in the world that attracts foreign capital and maintains growth. Bloomberg News reported that international investment giants are optimistic about China's huge opportunities and have launched new strategies focused on China. Morgan Stanley is "a huge beneficiary of this openness," said Morgan Stanley's Asia-Pacific executive.
This meeting emphasized the need to "comprehensively promote reform and opening up", and proposed "strengthening international macro policy coordination", "creating a market-oriented, rule-of-law, and internationalized business environment", "actively considering joining the Comprehensive and Progressive Trans-Pacific Partnership Agreement"... A series of clear and powerful policy signals demonstrates China's determination to implement "opening up to the outside world on a wider scale, in a wider field, and at a deeper level." Yu Hong, a senior researcher at the Institute of East Asian Studies at the National University of Singapore, said that China's comprehensive promotion of reform and opening up, and the improvement of the business environment to attract more foreign investment will help China's economic development and contribute to the recovery of the world economy.
New opportunities come from an innovation-driven development strategy. Innovation occupies a core position in the overall situation of China's modernization drive, and it is the key to solving the problem of unbalanced and inadequate development and promoting high-quality development. This meeting will strengthen the national strategic scientific and technological strength as the top priority of next year's key tasks. In the future, as the new drivers of China's innovation and development continue to strengthen and new industries grow rapidly, the vitality of China's economy will further burst out, which in turn will strongly promote global growth.
The International Data Corporation recently released a report predicting that China's share of the global artificial intelligence market will reach 15.6% in 2024, becoming an important driving force for global market growth. Saudi Arabian Finance Minister Mohammad Al-Jadan said that as Saudi Arabia expands digital services to the entire country, many Chinese companies have helped the country's development in areas such as 5G. "We attach great importance to our Chinese partners and hope to expand the cooperation between the two countries in the process of further developing the digital economy."

China's development cannot be separated from the world, and the prosperity of the world also needs China. As China embarks on a new journey of comprehensively building a modern socialist country, the high-quality development of the Chinese economy will surely inject more confidence and vitality into the post-epidemic world. (Reporter Li Jie)

Source: Xinhua News Agency