CGTN: Quality development is a priority in China’s modernization.
China prioritizes high-quality development to build China’s modernization, and its economy gained a new strong growth impetus from the 20th National Congress of the Communist Party of China (CPC). expected to receive.
Some Western media have launched a series of false accusations against the Chinese economy, accusing it of shaking up global supply chains, from continued reports claiming that foreign capital left China and the country’s economic growth slowed sharply.
In reality, China’s economy is shifting from quantitative growth to qualitative growth. It has experienced a historic rise in economic power and has made significant contributions to the global economy. Over the next five years, we will devote ourselves to building a modernized, higher-level open economy.
From Quantity to Quality
China will promote a new development pattern, an open dual cycle involving both domestic and foreign markets, implement an innovation-driven development strategy, and boost emerging strategic industries. did.
The country has several cores in major fields such as manned spaceflight, lunar and mars exploration, deep sea and deep earth probes, supercomputers, satellite navigation, quantum information, nuclear energy technology, aircraft manufacturing, and biomedicine. We have achieved a breakthrough in technology.
China has joined the world’s innovators. For example, the company invented the world’s first “hand-drawn” steel. At just 0.02 mm thin, it is a big contributor to the modernization of high-end manufacturing. Commonly used in foldable mobile phones, flexible displays, and batteries.
He also developed two international standards for the design and power supply of high-speed rail infrastructure, published by the International Union of Railways. These two standards demonstrate China’s contribution to promoting the internationalization of high-speed rail standards.
Countries built the world’s largest tunnel-boring machine (TBM). This can be used to build megaprojects in transportation
Chinese-made TBMs have been exported to more than 30 countries and regions, and the value of newly signed contracts in the first six months increased by 58% year-on-year.
China’s new energy vehicle (NEV) production and sales have surpassed global sales for seven consecutive years since 2015. Six of the top 10 best-selling NEV models in the world in 2021 will be Chinese brands. Six of the top ten high-performance battery suppliers are Chinese companies.
The country also has its 5G network, the largest in the world, with 5G users accounting for over 80% of its total user population. In 2021, industrial robots in the country grew by 44.9% year-on-year.
Historical Rise in Economic Strength
Economic data show that China’s economy has achieved positive growth over the past decade, with great potential and proven resilience, attracting foreign capital. COVID-19 Pandemic.
Increase In GDP
China’s GDP increased from 54 trillion yuan (US$7.5 trillion) in 2012 to 114 trillion yuan (approximately). Over 30% makes him #1 in the world
Consumption will be the main driver of economic growth in the country, contributing 65.4% of economic growth in 2021, up 10 percentage points from 2012. With a population of over 1.4 billion, it has been the world’s largest online retail market for nine consecutive years. And about 400 million middle-income people.
The country’s value-added manufacturing sector will grow from 16.98 trillion yuan (2.4 trillion US dollars) in 2012 to 31.4 trillion yuan (4.4 trillion US dollars) in 2021, her global share increased from 22.5% to almost 30%. Its manufacturing sector has been the largest in the world for its 12th consecutive year, with high-tech manufacturing share rising from 9.4% to 15. 1%.
Foreign direct investment (FDI) in China has increased from $111.7 billion in 2012 to $173.5 billion in 2021. Foreign investors seized new opportunities from China’s industrial and consumer upgrades, with foreign direct investment inflows into service and high-tech industries rising 33.6% and 8.7% respectively in the first eight months of the year. % increased.
“China has the world’s largest middle-income class, a comprehensive industrial system, a robust industrial chain, and an increasingly sophisticated infrastructure that provides ample market space for enterprises,” the conference.
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