PARIS, March 2 (Xinhua) -- China's successful achievement of its 2024 economic growth target has enhanced its credibility on the world stage, said Herve Azoulay, professor at the Silk Road Business School, adding that China contributes to global sustainable development by sharing its fruits gained through innovation and opening-up.
Azoulay said that China's performance in 2024 was remarkable, achieving the planned growth target of 5 percent, reflecting China's ability to maintain sustained growth even in an uncertain international environment, indicating that China will continue to consolidate and strengthen its position as one of the world's largest economies, and enhancing China's credibility on the world stage.
Taking China's reform and opening-up process and its carbon neutrality commitment as examples, Azoulay commented that "China has demonstrated that by solving its own economic challenges, it can also contribute to solving global economic problems."
Speaking of China's recent innovation achievements, Azoulay said that China's innovation-driven development is acting as a powerful driver for global sustainable development.
He pointed out that China's innovation, combined with large-scale R&D investment, has created advanced technologies such as the artificial intelligence model developed by DeepSeek, which will facilitate the transition from a mass production model to a knowledge-based economy and the creation of high value-added sectors.
"This development not only boosts the quality of growth, but also attracts a growing number of multinational companies, as China has a high-quality talent pool, and a vibrant innovation ecosystem of technology parks, incubators and clusters," Azoulay said.
He further stated that factors such as the Chinese government's incentives, favorable regulatory environment, competitive R&D costs, and vast domestic market have led companies to choose to place their R&D activities in China to remain competitive in the global market.
Azoulay observed that China is investing heavily in green technologies and sustainable solutions such as renewable energy, electric vehicles, and smart infrastructure management systems. He believes that these initiatives will not only contribute to China's energy transformation and pollutant reduction, but also provide a model for other countries, especially the Global South, to follow, helping them integrate into the global economy.
Azoulay explained that by fostering international collaborations and sharing of technologies and know-how, China's innovation model helps to quickly spread its advances around the world and create an environment conducive to a more inclusive and equitable globalization. "This will help not only address current environmental and socio-economic challenges, but also reduce inequality and enhance the resilience of developing economies," he said.
China's opening-up policy is an important guarantee for it to share its development achievements with the world. Azoulay mentioned that in the context of increasing global protectionism and trade tensions, China continues to open its market and increase international trade to attract foreign investment, stimulate innovation and foster win-win partnerships, especially through initiatives such as the Belt and Road Initiative.
He believes that such approaches will help many countries, especially those in the Global South, to finance the construction of necessary infrastructure including roads, railways, ports and telecommunications networks, thereby improving connectivity, reducing trade costs and supporting local economic development.
Therefore, Azoulay believes that China's opening-up model contributes to the construction of a multipolar world economic order that gives developing countries a greater voice in international governance, promoting a more balanced distribution of the benefits of globalization. (Contributed by Li Wenxin, edited by Yu Huichen with Xinhua Silk Road, yuhuichen@xinhua.org, )
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