In an exclusive article for DKnews.kz, Zhang Xiao, the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the Republic of Kazakhstan, discussed the importance of further strengthening China's policies of reform and openness, highlighted the significance of high-quality economic development, and shared insights on the prospects of Sino-Kazakh cooperation within the framework of the "Belt and Road Initiative." According to him, China and Kazakhstan are entering a new "golden thirty years" of mutually beneficial partnership, opening new historical opportunities for joint prosperity.
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In the new era, China will firmly adhere to the policies of reform and openness and will consistently promote high-quality economic development. Zhang Xiao, the Ambassador Extraordinary and Plenipotentiary of China to Kazakhstan
Since the launch of reforms and the "open-door" policy in 1978, China has achieved significant successes in the socio-economic sphere, which have drawn the attention of the global community. China's average annual economic growth rate reached 8.9%, and the scale of its economy increased 47 times. Entering the new era, China accelerated the development of new productive forces and enhanced new driving forces for economic development, contributing to the sustainable and healthy growth of China's economy and creating more cooperation opportunities for other countries. Over the past 10 years, China's average annual contribution to global economic growth has exceeded 30%, and since 2017, China has maintained its status as the world's largest trading nation for six consecutive years. In 2022, China's share of global market exports reached 14.7%, allowing it to rank first in the world for 14 consecutive years.
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In the first half of 2024, China's GDP grew by 5.0% year-on-year, making it one of the best-performing among the world's major economies. International organizations and institutions, such as the World Bank, have raised their forecasts for China's economic growth. However, certain forces, driven by their own interests, continue to put forward odd theories such as the "overcapacity of China's production" to discredit China's economy. The rapid development of China's economy sharply contrasts with the "critical situation" that some people try to impose. How can this phenomenon be understood? I believe we should return to objective economic laws and develop a comprehensive understanding of China's economy in the new era.
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First of all, there is no doubt that China's economic indicators in the first half of the year were generally stable. China's GDP reached approximately 61.7 trillion yuan, increasing by 5.0% year-on-year; the average urban unemployment rate was 5.1%, down 0.2 percentage points year-on-year; the price level moderately recovered: the Consumer Price Index (CPI) rose by 0.1% year-on-year, and the core CPI remained largely stable, increasing by 0.7% year-on-year. The total import and export volume of goods reached 21.2 trillion yuan, a record high. Despite weak global economic growth dynamics, frequent geopolitical conflicts, international trade disputes, and other problems, China can still achieve medium-to-high growth rates of around 5% and justifiably remains an important locomotive and stabilizing force in global economic growth.
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Secondly, China's economy is rapidly improving in quality and upgrading. Currently, China ranks first in the world in the number of patent applications, with the number of high-tech enterprises increasing to around 40,000. Investment in high-tech industries has maintained double-digit growth rates for many years, and technologies such as artificial intelligence and quantum communications are among the world's best. The improvement in value chain creation and technological content has helped China effectively resist the impact of changes in the external trade environment. The modernization of high-tech, intelligent, and "green" manufacturing industries continues, accelerating growth and enhancing support for the high-quality development of China's economy.
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Thirdly, when looking at China's economy, we must see not only the "form" of short-term fluctuations but also the "trend" of long-term development. All the difficulties and problems China faces are growth-related issues that will ultimately be resolved through development. China's international industrial competitiveness has improved much faster than in other countries, its achievements in enhancing scientific and technological levels and production efficiency are remarkable, and the long-term positive trend of China's economy has a solid foundation and remains unchanged.
Fourthly, China is determined to further comprehensively deepen reforms and has a clear direction. The Third Plenum of the 20th Central Committee of the Communist Party of China adopted the "Decision of the Central Committee of the Communist Party of China on Further Deepening Reforms for Promoting Chinese Modernization." China always adheres to the fundamental national principles of openness to the outside world and strives to build a new, higher-level open economic system. China will steadily expand institutional openness, deepen the reform of systems for managing foreign investment and outbound investment, optimize the structure of regional openness, and continue to improve and promote the high-quality joint construction of the "Belt and Road Initiative".
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China's contribution to global economic growth has remained above 30% for 11 consecutive years, and its status as the largest driver of global economic growth is unwavering. China has become a major trading partner of more than 140 countries and regions. China is committed to adhering to mutually beneficial cooperation, openness, and inclusiveness, striving to enhance its development for the benefit of countries worldwide.
China and Kazakhstan are friendly neighbors, connected by mountains and rivers and sharing a common destiny. In July of this year, Chinese President Xi Jinping successfully made a state visit to Kazakhstan and participated in the Astana Summit of the Shanghai Cooperation Organization, outlining a new plan for the development of the eternal comprehensive strategic partnership between China and Kazakhstan, as well as cooperation in various fields. Since the beginning of this year, Sino-Kazakh trade has maintained a rapid growth rate. According to statistics from China's Customs Service, the total import and export volume of goods between China and Kazakhstan from January to July 2024 amounted to USD 25.5 billion, an increase of 17% compared to the same period last year.
The joint construction of the "Belt and Road Initiative" between China and Kazakhstan continues to progress with high quality, and practical cooperation in various fields continues to achieve new substantial successes.
Sino-Kazakh relations have entered a new "golden thirty years" and face new historical opportunities for development. Standing at a new historical starting point, China is ready to work with Kazakhstan to use the July visit as an opportunity to deepen political mutual trust, jointly promote the high-quality construction of the "Belt and Road Initiative," and mutually beneficial cooperation in various fields, and jointly build a Sino-Kazakh community of shared destiny characterized by eternal friendship, high mutual trust, and interconnectedness.
