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Int'l community hails China's contribution to world development
July 02,2018   By:Xinhua
July 2, 2018-- As the Communist Party of China (CPC) celebrates its 97th anniversary on Sunday, officials and experts worldwide have praised China's contribution which has provided momentum and visionary concepts for global development.
 
STRONG GROWTH ENGINE FOR WORLD
 
The National Bureau of Statistics (NBS) in February released a communique on economic and social development in 2017, which showed China's contribution to world economic growth stood at around 30 percent in 2017.
 
"Chinese economy remained an important growth engine for the world's economic recovery," NBS chief statistician Sheng Laiyun said.
 
World Bank data showed that China contributed 34 percent of world economic growth in 2012-2016, more than that of the United States, European Union and Japan combined.
 
China's economy expanded 6.9 percent last year to 82.7 trillion yuan (12.8 trillion U.S. dollars), around 15 percent of the world total. Foreign exchange reserves, the world's largest, reached 3.1 trillion dollars, and trade with countries along the Belt and Road rose 17.8 percent to 7.4 trillion yuan (1.15 trillion dollars).
 
The performance not only fuelled optimism for a global recovery, but also secured greater sustainability through domestic consumption, trade and new technology, which increased external demand and international productivity.
 
China can achieve more inclusive and sustainable development with coordinated reform, according to the World Bank Group's report released in February, which highlighted China's rapid growth that has resulted in a decline in poverty "unprecedented in its speed and scale."
 
"China's remarkable progress in reducing extreme poverty has significantly contributed to the decline in global poverty," said Hoon S. Soh, World Bank program leader for economic policy for China.
 
WORLD RECOGNITION
 
With achievements in various fields, China has gained worldwide recognition.
 
China's trading not only contributes to world growth but also benefits less developed nations as "sharing" is its "byword," said Stephen Perry, chairman of 48 Group Club, a British organization composed of company leaders promoting Britain-China trade.
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