Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Nation seen at forefront of global growth

By OUYANG SHIJIA | CHINA DAILY | Updated: 2022-05-25 08:32
Share
Share - WeChat
Participants attend the welcome reception in the Congress Center for the World Economic Forum (WEF) 2022 Annual Meeting in Davos, Switzerland, May 22, 2022. [Photo/Xinhua]

China's huge economic scale, the strong resilience of its economy and high-level opening-up will mean it remains one of the most appealing destinations for foreign investment, providing new opportunities for global stakeholders, experts said at the annual World Economic Forum in Davos, Switzerland.

"China will keep on being one of the top two destinations for foreign direct investment for a long time to come," said Marcos Troyjo, president of the New Development Bank, a multilateral development bank set up by the BRICS nations of Brazil, Russia, India, China and South Africa.

"China is no longer a low-cost country. China now leads the world in so many areas that are tech-intensive," Troyjo said on Monday during a panel discussion at the forum.

Given the structural shift in China's economic growth model, he said the nation would remain at the forefront of economic growth for years to come, and a lot of opportunities would be generated in terms of boosting supply and value chains with different countries of the world.

"This value addition in the global chains, as far as China is concerned, will be one of the most important magnets in attracting new investments to China and creating opportunities across the emerging market world," he said.

After a two-year hiatus due to the COVID-19 pandemic, around 2,500 political and business leaders and experts are taking part in the five-day meeting in Davos, where they are tackling global issues and dealing with challenges including the ongoing pandemic, geo-economic shocks and climate change.

Despite pressures and challenges from the complicated international situation and the COVID-19 pandemic, experts said that China would continue to grow steadily this year and it has sufficient policy tools to cope with economic pressures.

Troyjo said that his bank expects to see robust growth this year in China, estimating that the nation's GDP may grow 5 percent in 2022.

He spoke highly of China's ongoing efforts to expand opening-up, saying that China's openness to globalization is sending a positive message.

Zhu Ning, deputy dean of Shanghai Jiao Tong University's Shanghai Advanced Institute of Finance, said: "In the past few years, China's contribution to global GDP growth has been over 25 percent. That's bigger than the combined contribution from India and the US," pointing out that this reflected the continued dynamism of China's economy.

China's economy cooled in April with a drop in both industrial production and consumption, as resurgent domestic COVID-19 cases severely disrupted industrial, supply and logistics chains. And the country is facing pressure from weaker expectations amid COVID-19 outbreaks and changes in the international environment.

But even though it faces short-term headwinds and fluctuations, Zhu said that China has ample policy tools and plenty of room to step up fiscal and monetary policy backing to support growth, such as giving out consumption coupons and lowering the interest rate.

John Tuttle, vice-chairman and chief commercial officer of NYSE Group Inc, said the resilience of China's economy is mainly from its ultra-large domestic market, offering tremendous opportunities for global investors.

Tuttle's views were echoed by Jonathan Krane, chief executive officer of US fund company Krane-Shares. He said that given China's huge growth potential, he expected to see increased allocations to China by global investors despite the downward pressure of the markets.

For instance, he cited China's accelerated urbanization process, saying that this will create new investment opportunities in the nation in fields such as internet technology, healthcare, 5G and clean technology.

Looking ahead, he took a rosy view of the sustainable and healthy development of China's internet technology sector, which he said accounts for 40 percent of China's GDP.

Krane said China's antimonopoly, antitrust and cybersecurity regulations will help foster the strong and long-term growth of the internet technology sector.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 97视频久久久| 免费在线看v片| 一边摸一边叫床一边爽| 欧美激情videos| 国产又大又长又粗又硬的免费视频 | 韩国xxxx69| 女神校花乳环调教| 亚洲av无码一区二区三区国产| 美女污污视频在线观看| 国产精品资源网| 中文字幕无线码欧美成人| 欧美精品一区二区三区免费观看| 国产人与禽zoz0性伦| 99re在线视频精品| 日本va欧美va欧美va精品| 亚洲欧美日韩精品久久亚洲区| 色综合天天综合网国产成人网| 国产高清乱理论片在线看| 丰满的少妇愉情hd高清果冻传媒| 欧美精品第欧美第12页| 国产aaa女人十八毛片| 84pao国产成视频免费播放| 日本三级特黄在线观看| 亚洲欧美一区二区三区二厂| 色偷偷人人澡人人爽人人模| 国产精品无码久久av| 两个人看的www免费| 欧洲亚洲国产精华液| 免费国产黄网站在线观看视频| 99re6在线| 在线观看免费av网站| 久久久久88色偷偷| 欧美成人天天综合在线视色| 和前辈夫妇交换性3中文字幕| 你懂的在线视频| 嫦娥被爆漫画羞羞漫画| 九九九国产视频| 爆乳少妇在办公室在线观看| 国产三级毛片视频| 桃花阁成人网在线观看| 少妇一晚三次一区二区三区|