China will continue to be an important engine of global economic growth

According to data recently released by the National Bureau of Statistics, the total import and export of goods in China for the year 2023 was 41756.8 billion yuan, an increase of 0.2% compared to the previous year. Among them, exports amounted to 23772.6 billion yuan, an increase of 0.6%; Imports amounted to 17984.2 billion yuan, a decrease of 0.3%. The import and export balance resulted in a trade surplus of 5788.4 billion yuan. Overall, the import and export of goods remain stable, and the trade structure continues to optimize.
In the past year, the Chinese economy has withstood external pressures and maintained a positive and positive overall recovery trend.   The Chinese economy continues to break through waves, becoming an important driving force for global economic growth. As the President of the World Economic Forum, Borg Brunde, said, "Although the world economy is facing serious challenges, China will still be an important engine of world economic growth. China has enough policy tools to boost its economy." As the dividends of Chinese path to modernization appear step by step, especially under the guidance of new policies such as new urbanization, green transformation and innovation driven, China will further leverage its advantages of a super large market and strong production capacity to explore broader space for world trade and investment.

Looking ahead to the new year, China's economy is poised for growth and bright prospects are within reach. According to data from the Ministry of Commerce, from January to November 2023, China's total import and export volume of service trade reached 5890.2 billion yuan, a year-on-year increase of 9%; Among them, the import and export of knowledge intensive services reached 2435.15 billion yuan, a year-on-year increase of 8.3%. It can be seen that with the increasing proportion of knowledge intensive service industries with high knowledge content, high technological content, high innovation content, high human capital investment, and high added value, China's economic structure has entered a new stage of optimization, upgrading, and high-quality development. On the path of progress, it is necessary to fully, accurately, and comprehensively implement the new development concept, promote the effective improvement of quality and reasonable growth of quantity in the economy, focus on the central work of economic construction and the primary task of high-quality development, in order to consolidate and enhance the positive trend of economic recovery and provide strong and sustainable impetus for the world economy.

Currently, the world is facing problems and challenges such as slow economic growth, small and increasingly fragmented trade growth, and increasing uncertainty and instability risks. Various forms of protectionism are clearly on the rise, and phenomena such as internal and external treatment, and shifting conflicts are also worrying. In January 2024, the World Bank released the latest Global Economic Outlook report, which showed that the period from 2020 to 2024 may be the slowest in the world's gross domestic product (GDP) growth rate in the past 30 years; This year's global economic growth may decrease from 2.6% in 2023 to 2.4% (3.0% in 2022, 6.2% in 2021). How to turn the tide, avoid risks, regulate the macroeconomy, and tap into growth momentum? A series of difficult problems are once again presented to countries around the world, which greatly tests their economic resilience. Among them, China will continue to play an important role in global development. As the world's second-largest economy, China's steady progress and great potential for trade and investment are undoubtedly significant positive news for the current world economy. The international community is also constantly calling on major multilateral economic governance platforms, hoping that all parties can propose effective response plans in a timely manner, and maintain high attention to China's plans and contributions.
China advocates inclusive economic globalization and is committed to promoting the healthy development of the world economy. Recently, the Central Conference on Foreign Affairs proposed an important proposal for promoting inclusive and inclusive economic globalization, which has practical relevance and strategic guidance. It will lead the correct direction of economic globalization and provide solid support for building a community with a shared future for mankind. Economic globalization is an objective requirement for the development of productive forces, an inevitable result of technological progress, and also a necessary path for the advancement of human society. Economic globalization has promoted trade prosperity, investment convenience, personnel mobility, and technological development. For a considerable period of time, the economies of scale brought about by economic globalization have driven the rapid and healthy development of the world economy and the collective rise of emerging market countries. It has been proven that advocating for "anti globalization" based on neighbors cannot solve one's own chronic problems, and fighting alone or even building walls and monasteries will only make the global industrial chain more fragmented. In today's world where you have me and I have you, only by developing ourselves well and thinking about how to promote mutual benefit and progress with the world can countries solve the problem of imbalanced development between and within countries caused by global resource allocation, and work together to expand and fairly share the cake of "economic globalization". No matter how the world situation evolves, China advocates for inclusive economic globalization, responding to the common demands of countries around the world, especially developing countries, supporting them to embark on development paths that are in line with their own national conditions, and working together to solve structural problems that hinder world economic development, achieving mutual benefit and prosperity.
The world is good, China is better; China is good, the world is better. Deeply aware of this simple truth, China is taking practical actions to answer the questions of the times. With a state of energetic spirit, high spirited spirit and sufficient confidence, China is forging ahead, pioneering and forging ahead, striving to achieve the goals and tasks of economic and social development, and making new and greater contributions to comprehensively promoting the construction of a strong country and national rejuvenation with Chinese path to modernization.
Guangming Daily (January 25, 2024, 2nd edition)