International News Agency “Kazinform” jointly with the illustrated magazine “Zhengmin Huabao” introduces to its readers the opinions of Chinese experts about a content of the report of Li Keqiang, the Premier of the State Council of the People’s Republic of China, about a work of the Government, with which he spoke at the recently opened first session of the 13th National People’s Congress.
Chen Cicin, the professor of Economy Department, the Head of the Macroeconomic Department of the Central Party School of the Communist Party of China, placed a greater emphasis on a note of the report about “global stimulation of upscale development of economy”.
“Today, from the standpoint of economic development of China, scope and speed receives less attention these days, quality and effectiveness comes to the fore in the economy. In 2016, GDP of China was seven trillion dollars less than it is in USA; however, it is six trillion dollars more than in Japan which is the third largest economic unit in the world. According to calculation, a value of GDP on current basis in China can excel the United States of America approximately by the year 2027. In spite of temporary down of economic growth, the speed of economic development of China continues to be higher than in large majority of countries. However, it is necessary to realize that the problems of low quality, poor effectiveness, weak innovativeness and unfriendly environment comes to fore. All these [problems] are necessary to solve by the way of competent economic development”, he said. Expert recalled that on 19th Congress of the Communist Party of China, the plan of development of a powerful modernized socialistic state was set on the basis of the strategy of “two steps”.
“Economy is the basis for implementation of socialistic modernization, powerful economy is necessary for development of a strong country. Scope is the basis for powerful economic development, quality is a key point. Particularly, these days the world is in the midst of a new round of the industrial and technological revolution. Engineering capabilities, innovativeness, and human resources appeared to be in focus of globalized competition. No global power is capable to meet international competition relying only on the scope of economy. Today, quality and innovations come to the fore”, he emphasized.
According to him, increasing of quality and effectiveness must pursue an aim of satisfaction of people’s requirements by enhanced studying of the market. It is necessary to improve manufacture and quality, gain productive power in accordance with actual requests of citizens.
Zhou Yuehui, the Assistant Professor of the Economy Department of the Central Party School of the Communist Party of China, believes that it is very important to create a new architectonics of all-rounded openness.
According to him, at dawn of adopting of reform and opening up policy the level of openness of Chinese economy was low. According to the data of the National Bureau of Statistics of China, in 1978 the foreign trade volume of China was only 20,64 billion dollars (0,79% out of the global volume), and on this index China ranked 22th in the world. Overall volume of attraction of foreign investments and China’s investing abroad was less than 20 million dollars. 40 years passed, and today growth rate of foreign trade and usage of foreign investments in China considerably surpassed global average level. According to the recent data of the National Bureau of Statistics of China, at year-end 2017 overall volume of export and import of China was 27,79 trillion yuan, increasing for 14,2% in comparison with the previous year; China’s share in the global trade increased notably, in total turnover China’s level reached USA’s.
“In preceding five years, the contribution of China to growth of the world economy exceeded 30%, whereas aggregate contribution of advanced economy (USA, EU and others) was fewer than 30%. In my opinion, China deserves to be bravely called the source of driving force that can contribute to global economic growth.
According to preliminary calculation, at year-end 2017 annual growth of China’s economy was 6,9% which is well above than the index of economy of other leading countries. This [above mentioned] was the result of the initiative on joint building of “One belt and one road” launched by China, and the accelerated creation of a new open-type economic system, it also the result of assistance in development of the opened world economy, active involvement in global economic administration – all this big success was reached after 18th Congress of the Communist Party of China (2012)”, he said.
The Expert recalled that according to the decisions adopted on 19th Congress of the Communist Party of China, it is necessary to place some effort to formation of new all-rounded openness in a new era. For this purpose China needs to continue of implementation of the initiative “One belt, one road”, accelerate building of the strong trade power, improve an investment environment for foreign investors, optimize “open regionalism”, reform a method of conducting of external investment cooperation, assist in liberalization and simplification of trading and investments’ implementation procedure.
“We need to boost the level of bilateral openness, competently resolve a trade conflict, and align with open strategy of mutual benefit and global profit. We need to initiate openness, and through this receive development dividends and beat the global competition”, summarized Zhou Yuehui.
It should be reminded that “Zhengmin Huabao” is a popular Chinese national illustrated monthly magazine, first published in 1951. Its hieroglyphic name was calligraphically and personally written by the First Chairman of the Communist Party of China Mao Zedong.