China News Service, Beijing, February 11 (Zhang Wenhui, Cao Xufan) Despite the overall slowdown in global economic growth, China's economy will still maintain a good momentum of recovery in 2023. Entering 2024, how will China's economy perform?
Zhang Jianping, deputy director of the Academic Committee of the Research Institute of the Ministry of Commerce, said in a recent interview with a reporter from China News Service that China's economy will still move forward steadily in 2024 and continue to maintain a medium-to-high growth trend. On the one hand, it can continuously increase residents' disposable income and enhance residents' consumption confidence and spending power; on the other hand, China's economy will still make an important contribution to the global economy and will continue to serve as the "locomotive" of global economic growth.
According to a report by the World Intellectual Property Organization, China's Global Innovation Index ranking has risen from 34th in 2012 to 12th in 2023, and the number of the world's top 100 scientific and technological innovation clusters has ranked first in the world.
Zhang Jianping pointed out that China has now become a developing country driven by innovation. New business formats, new models, and new kinetic energy continue to grow, and the proportion of the "three new economies" in the total economy continues to rise. Whether on the supply side or the demand side, these have effectively driven China towards service-oriented and high-tech directions. move forward and add new momentum to the Chinese economy.
On the other hand, China's industrial competitiveness is constantly rising. In terms of its industrial base, China is an economy integrating all factors, all categories, and the entire industrial chain. It can be said that China has an industrial agglomeration effect on the one hand, and an industrial scale effect on the other. "So now China can gain significant advantages in the world in the 'new three' (electric passenger vehicles, lithium-ion batteries and solar batteries), while also meeting our domestic market needs, highlighting China's industrial competitiveness in the development process Continuously improve and expand, thereby driving China’s stable economic growth.” Zhang Jianping said.
In addition, Zhang Jianping also emphasized that China has formed a clear trend of consumption driving economic growth. He said that in 2023, consumption will contribute more than 80% to China's economic growth. It can be said that China has established a long-term mechanism to expand domestic demand to drive economic growth. (over)