Current location:entertainment >>
China will not peak as forecasted by the 'China peak theory': FM spokesperson
entertainment48829People have gathered around
Introduction(ECNS) -- China did not collapse as predicted by the “China collapse theory,” nor will it peak as fo ...
(ECNS) -- China did not collapse as predicted by the “China collapse theory,” nor will it peak as forecasted by the “China peak theory,” Chinese Foreign Ministry spokesperson Mao Ning said at a regular press conference on Tuesday.
Last week, Senior Fellow at the Peterson Institute for International Economics Nicholas R. Lardy published an article on the website of Foreign Affairs titled “China Is Still Rising—Don’t Underestimate the World’s Second-Biggest Economy”.
It mentioned that U.S. academics’ recent view of China already peaking as an economic power underestimates the resilience of its economy. Although China faces several headwinds, the country overcame even greater challenges when it started on the path of economic reform in the late 1970s. China is likely to expand at twice the rate of the US in the years ahead.
“As President Xi Jinping stressed during his recent meeting with representatives of the U.S. business, strategic and academic communities, the Chinese economy is sound and sustainable,” Mao said.
She noted varying perspectives on China’s economy, saying that the widely shared view, however, is that China is among the fastest-growing major economies. As the second largest economy in the world, the Chinese economy has a solid foundation, remarkable resilience and enormous potential.
She introduced that, first, China is the only country in the world that has industries across all categories in the UN industrial classification and home to over 200 mature industry clusters. The size of China’s manufacturing industry has been the largest in the world for 14 consecutive years.
Second, China has over 400 million people in the middle-income bracket, and the number is on course to reach 800 million in the next decade or so. There are close to 300 million rural migrants who are acquiring permanent urban residency at a faster pace. It will create massive demand and significantly transform consumption in areas such as housing, education, medical services and elderly care.
Third, she added, China’s total input in research and development and investment in the high-tech sector have been growing at double-digit rates for several years running. China also tops the world in the number of patent applications and technology clusters. Fourth, the Chinese government is speeding up the cultivation of new quality productive forces. The effort has visibly given boost and support to high-quality development. Last but not least, more and more multinational businesses are investing in the Chinese market, which is a vote of confidence for China’s economic outlook. In January and February this year, 7,160 foreign-invested companies were set up in China, marking a year-on-year increase of 34.9 percent, which is a record high in the past five years.
“Facts speak louder than words. No matter how some people try to dampen the outlook on China’s economy, the overall trend of long-term growth will not change, China’s super-sized market and well-functioning industrial system remain its notable strengths, and factors underpinning the high-quality development are building up,” she said.
“Through its steady development, China will remain a strong engine and source of opportunities for the world economy,” she concluded
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Culture Craft news portal”。http://bermuda.downmusic.org/article-07d399919.html
Related articles
Dodgers acquire pitcher Yohan Ramírez from Mets for cash
entertainmentLOS ANGELES (AP) — The Los Angeles Dodgers acquired pitcher Yohan Ramírez from the New York Mets for ...
Read moreMalaysian soccer player splashed with acid, two others attacked in a week of rare violence
entertainmentKUALA LUMPUR, Malaysia (AP) — A Malaysian international footballer has been splashed by acid and two ...
Read moreChinese leader Xi Jinping set to meet Serbian officials on the second leg of his Europe tour
entertainmentBELGRADE, Serbia (AP) — Chinese leader Xi Jinping is set to meet Wednesday with Serbian officials an ...
Read more
Popular articles
- Julian Assange's five
- Former corrections officer sentenced to 4 years for using excessive force
- Shakib returns to Bangladesh squad for final two T20 matches against Zimbabwe
- Dozens still missing after Monday's South Africa building collapse. 7 confirmed dead
- Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient
- Pregnant Lala Kent goes make
Latest articles
I'm a cruise ship worker...these are the FIVE things smart passengers always do onboard
A cargo plane make an emergency landing at Istanbul Airport after front landing gear fails
German teams' success in Champions League disrupting Germany's Euro 2024 preparations
High school students, frustrated by lack of climate education, press for change
I was 'brokefished' by my friend for £400
Houston mayor says police chief is out amid probe into thousands of dropped cases
LINKS
- Xinhua Headlines: From Serfdom to Freedom — Tibet's Progress on Democracy, Human Rights
- Chinese University to Compile Textbooks for Intangible Cultural Heritage Studies
- China Focus: China Expands Public Welfare Jobs for Vulnerable Groups in Push for Common Prosperity
- Art Class Enables Children with Autism to Socialize
- Language Service Added to China's Emergency Response
- Xinhua Headlines: From Serfdom to Freedom — Tibet's Progress on Democracy, Human Rights
- Spring Farming Across China
- Free Extracurricular Classes Nurture Talents of Tibetan Children
- China to Hold over 200 Popular
- China Mulls Tougher Rules Against Women Trafficking