China News Agency, Beijing, July 7 (Reporter Xia Bin) For the global economy, China plays an increasingly important role. In the process of interacting with the world, dividends are also flowing in both directions.

  “One of China’s biggest contributions to the global economy over the past decade has been its rapidly growing share of consumption – China’s share of global consumer spending has grown from 7% in 2011 to 14% in 2021, the largest growth of any country Yes." Xiong Yi, chief economist of Deutsche Bank Group China, said in an exclusive interview with a reporter from China News Agency recently.

  Xiong Yi believes that the "rebalancing" process of China's transformation from an export-oriented economy to an important end-demand market has benefited many domestic and foreign companies and has also contributed to global economic stability.

  The China International Import Expo is the symbolic result of the above-mentioned "rebalancing" process.

The latest news shows that as of July 1, the preparatory work for the 5th CIIE has been progressing steadily. The exhibition area of ​​enterprise exhibitions is close to 80% of the planned area. The number of Fortune 500 and industry leading companies that have signed contracts has reached 260. Countries that are willing to participate will use the official website of the CIIE to carry out online exhibitions. At present, many countries have confirmed their participation.

  In the whole of last year, China's foreign trade exceeded US$6 trillion for the first time, a record high.

In the first quarter of this year, China's imports and exports increased by 10.7% year-on-year. While sharing China's large market with the world, it also delivered cost-effective Chinese products to the world.

The stability of foreign trade data shows that China's global dividend as a "world factory" and "world market" is particularly valuable in the context of high global inflation.

  But it must be recognized that China's dealings with the world have not always been "sweet".

Xiong Yi pointed out that from the perspective of the external environment, the biggest change in the past decade has been the intensification of economic imbalances within developed economies, which has triggered changes in their economic policies and has also had an impact on social and political structures, including trade protectionism. Emergence and the impact of anti-globalization.

  International "headwinds" are blowing frequently, and China has come up with countermeasures.

Xiong Yi said that in recent years, China has implemented a series of reform measures, including further opening up the domestic market, simplifying market access, and providing a level playing field for different types of enterprises.

  “Long before these reforms, China was recognized as an important destination for foreign direct investment. For the U.S. and the European Union, the growth rate and scale of their overseas subsidiaries’ operations in China have outpaced direct exports to China. This is a Important reform directions are also areas that China should continue and further deepen in the next stage of development, which will not only help the Chinese economy maintain its competitiveness while developing rapidly, but will also create common interests and opportunities for all parties in the world.” Xiong Yi said .

  From the data point of view, in 2021, China's actual use of foreign direct investment exceeded 1 trillion yuan for the first time.

In the first quarter of this year, China's actual use of foreign capital increased by 25.6% year-on-year, achieving "stable door opening".

The stable investment data shows the great charm and vitality of the Chinese economy.

  Xiong Yi bluntly said that in the face of protectionism, it is easy to fall into a state of tit-for-tat, but it takes greater wisdom and courage to stick to an open direction and find a win-win solution.

Not only does China need to articulate its policy intentions more clearly to enhance international communication, but it also needs to fully understand the needs and drivers behind the actions of foreign governments and companies.

Therefore, it is crucial to continue to strengthen two-way communication and personnel exchanges and maintain a smooth communication mechanism.

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