China’s economy is sailing steadily on the route of high-quality development, says Liu Jieyi, spokesperson for the third session of the 14th Chinese People’s Political Consultative Conference (CPPCC) National Committee.

Mr Liu made this known during a news conference on Monday in Beijing, ahead of the committee’s annual session.

According to him, high-quality development is a priority of the new era.

He said that the CPPCC national committee would continue to support such high-standard duties.

He noted that in 2024, the Chinese economy secured steady progress and made solid advances, with its gross domestic product for the year exceeding 134 trillion yuan ($18 trillion) and a gross rate of five per cent.

This, he said, was one of the fastest among the world’s major economies.

He said that new industries and businesses continued to emerge with smart manufacturing and smart products being updated on a monthly and even daily basis.

“China’s green productivity is booming, and we are leading the world in wind power, photovoltaic, and new energy vehicle sectors.

“The last spring festival saw a strong demand in the consumer market, with home appliances and audio-video equipment selling particularly well, growing at a 166.4 per cent increase from last year.

“Income from tourism grew by 37.5 per cent,” he added.

He, however, said that the national committee was aware that profound and complex changes were taking place in the domestic and external environments and that the Chinese economy was facing some difficulties.

The spokesperson said that it must be seen that the Chinese economy was enjoying a solid foundation, multiple advantages, strong resilience, and great potential.

According to him, underlying conditions and basic trends of China’s long-term growth remain unchanged.

He hailed the significant advantage in China’s system, a large market, and the potential of new types of consumption getting unleashed at a faster pace.

Mr Liu said that China had the advantage of having a complete industrial system, adding that the scale of its manufacturing sectors has topped the world for 15 years in a row.

“The giant ship of the Chinese economy has sailed forward and cleaved through the waves.

“As long as we squarely face the challenges, firm up with confidence, and follow through on the Communist Party of China’s (CPC) Central Committee’s decisions and plans, we will take the high-quality development of the Chinese economy to new heights.

“The economy is always a priority in the work of the CPPCC National Committee,” he noted.

Mr Liu further said that over the past year, China continued to serve as an engine for global economic growth, maintaining its position as the world’s largest trader of goods and second largest import market.

He highlighted new progress made in high-quality Belt and Road cooperation, noting that the mechanism for the area would be refined broader, wider, and deeper.

“We will continue to pursue high standards, opening up and deepening the reform of the foreign trade system and the management system for inward and outward investment.

“We will continue to promote the implementation of the global development initiatives and make economic globalisation more open, inclusive, universally beneficial, and balanced.

“We will work with the rest of the world to share opportunities to foster prosperity and contribute to building the world economy,” he said. 

(NAN)