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Xinhua Silk Road
Economy

China contributes to sustainable global development, says Chinese vice premier

January 22, 2020


Abstract : Chinese Vice Premier Han Zheng said here on Tuesday that China is a beneficiary of economic globalization, and more importantly, a contributor to sustainable global development.

DAVOS, Switzerland, Jan. 21 (Xinhua) -- Chinese Vice Premier Han Zheng said here on Tuesday that China is a beneficiary of economic globalization, and more importantly, a contributor to sustainable global development.

Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said in a speech at the 2020 annual meeting of the World Economic Forum in Davos, Switzerland, that China has become a main anchor and leading engine of the world economy, contributing around 30 percent to global growth in recent years.

China has actively implemented the United Nations 2030 Agenda for Sustainable Development and played a leading role in international cooperation on climate change, which has made global development more inclusive and sustainable, Han said.

By honoring its WTO accession commitments on all fronts and promoting trade and investment liberalization and facilitation, China has provided an important driving force for building an open world economy, he said.

From 2001 to 2018, China's import of goods increased at an annual rate of 13.6 percent, 6.8 percentage points higher than the global average. Also, its huge market has offered tremendous opportunities for the development of other countries, he said.

From 1978 to 2018, China has attracted over 2 trillion U.S. dollars of foreign direct investment in non-financial sectors. Around 490 out of the world's top 500 companies have business operations in China, he said.

All these have contributed to the sustained and sound growth of the Chinese economy, improved the global supply, industrial and value chains, and provided strong support to the world economy, he added.

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Keyword: FDI sustainable development World Economic Forum

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