Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road
Economy

Pragmatic economic policy key to China's economic recovery: expert

January 22, 2021


Abstract : China's pragmatic policy has become the main factor in ensuring the recovery of its economy amid the COVID-19 pandemic in 2020, a Ukrainian expert told Xinhua on Wednesday.

KIEV, Jan. 21 (Xinhua) -- China's pragmatic policy has become the main factor in ensuring the recovery of its economy amid the COVID-19 pandemic in 2020, a Ukrainian expert told Xinhua on Wednesday.

Olga Drobotiuk, director of the Boris Kurtz Institute of Contemporary Chinese Studies in Kiev, said a pragmatic economic development policy is the backbone of China's economic stability.

Since the global financial crisis in 2008, said Drobotiuk, China has stepped up its industrial adjustment efforts, eliminated high-pollution, high-energy consumption, as well as low-efficiency and low-level outdated production capacity on a large scale.

During the time, China has successfully implemented its "five-year plans," fought poverty, actively developed science and education, supported small businesses, promoted urbanization, and helped increase the production of high-tech and highly intelligent products, Drobotiuk said.

Also, the expert believed that the strong quarantine imposed in China during the outbreak of COVID-19 contributed to the dynamic recovery of the Chinese economy.

With a stunning 6.5-percent growth in the fourth quarter, China's economy expanded 2.3 percent in 2020, reaching 101.6 trillion yuan (15.66 trillion U.S. dollars), according to data from the country's National Bureau of Statistics.

The expert said that despite the impact of the pandemic, the stability of the Chinese economy has shown that the country will continue its growth in the long-term perspective.

"In 2021, the implementation of the 14th five-year plan begins, which sets out short and medium-term goals for the socio-economic development of China," the expert said. Enditem

Scan the QR code and push it to your mobile phone

Keyword: China economy

Reading:

The Chinese Sengi Express Ltd is the first foreign company to join Italy's Poste Italiane

​Tax data confirms better-than-expected recovery of Chinese economy

SW. China's Sichuan sees tourism revenue hitting 650 bln yuan in 2020

China’s Hainan plans to be int'l tourism consumption center in 5 years

NW.China Shaanxi sees fastest growths in auto sales and output in China in 2020

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial