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China's Economy Always Contributes Positive Energy to the World Economy
2022-11-22 23:47

(By Chinese Ambassador to Liberia H. E. Ren Yisheng)

The National Bureau of Statistics of China recently released the national economic performance in the first three quarters of 2022. The statistics show that the Chinese economy has overcome the adverse effects of multiple unexpected shocks, the main indicators have stabilized and remained within a reasonable range, and the accumulation of positive factors has increased. According to preliminary calculations, the GDP in the first three quarters was 87.027 trillion, a year-on-year increase of 3.0%, 0.5 percentage points faster than that in the first half of the year. In terms of quarters, the GDP grew by 4.8% year-on-year in the first quarter, by 0.4% in the second quarter, and by 3.9% in the third quarter. From a quarter-on-quarter perspective, the GDP in the third quarter grew by 3.9%. This is significantly better than that of the second quarter, reflecting the recovery of the Chinese economy. It can be found that the second quarter was the low point of this year's economy, and the third quarter rebounded significantly. China has successfully achieved a "V"-shaped rebound. This is an important result of the implementation of a series of policy measures to stabilize the economy.

The COVID-19 pandemic still drags on with cases surging here and there. The world economy is getting more fragile. The geopolitical environment remains tense. Global governance is seriously inadequate. Food and energy crises are compounded with one another. All this poses formidable challenges to our development. In the face of many unstable and uncertain factors, the Chinese economy has always contributed positive energy to the world economy. The statistics of the first three quarters show that the fundamentals of China's long-term economic growth have not changed, showing strong resilience and vitality. A China marching toward modernization will bring more opportunities to the world, inject stronger momentum for international cooperation, andmake greatercontribution to human progress.

The Communist Party of China (CPC) has recently convened its 20th National Congress, laying out the goals, tasks and guiding policies for the cause of the Party and the country in the next five years and beyond. China will stay committed to the path of peaceful development, stay committed to deepening reform and opening-up, and stay committed to promoting national rejuvenation on all fronts through a Chinese path to modernization. China remains committed to the fundamental national policy of opening up to the outside world, pursues a mutually beneficial strategy of opening-up, and adheres to the right course of economic globalization. We will amplify the interplay between domestic and international markets and resources, strive to create new opportunities for the world with our own development, and contribute our share to building an open global economy.

China prioritizes development and puts the people at the center, always keep in mind the difficulties faced by developing countries, and accommodate their concerns. China will work with all countries and all parties to share the opportunities in its vast market, encourage innovation in trade and promote high-quality Belt and Road cooperation. China will engage fully and deeply in WTOs reform negotiations, promote trade and investment liberalization and facilitation, and enhance international macro-economic policy coordination, with a view to jointly fostering new drivers for global growth. China will endeavor to expand the globally-oriented network of high-standard free trade areas, firmly support other developing countries and assist them in growing faster, and promote the building of a community with a shared future for mankind.

China's economic development will continue to benefit African countries including Liberia. According to a recent report by the World Bank, from 2013 to 2021, China's average contribution rate to world economic growth will reach 38.6%, exceeding the sum of the contribution rates of the G7 countries. At present, China is the world's second largest economy, the largest trader of goods, the largest manufacturing country, the largest foreign exchange reserve country, the second largest consumer market and the second largest foreign direct investment inflow country. China has been Africa's largest trading partner for 12 consecutive years, and it is also Africa's main source of investment. China is working closely with African countries to actively implement the Nine Programs proposed by President Xi Jinping at the Eighth Ministerial Conference of the Forum on China-Africa Cooperation last November. China-Liberia cooperation has also achieved fruitful results in the fields of economy and trade, medical care, infrastructure construction, food security and human resource development.

Entering the new era, China will continue to work hand in hand with the people of Africa and Liberia, unswervingly follow the path of mutual benefit and win-win results, and deepen pragmatic cooperation with African countries and the people of Liberia in various fields.China is ready to work with all countries to practice true multilateralism, build more consensus for openness, jointly overcome the difficulties and challenges confronting global economic growth, and make sure that our commitment to openness will bring about broad prospects for global development including that of Africa.

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