Ambassador Extraordinary and Plenipotentiary of China to Kazakhstan, Zhang Xiao, gave an exclusive interview to DKnews.kz, in which he shared his vision of the steady progress of China's economy and emphasized the strategic significance of China-Kazakhstan cooperation. In the interview, the Ambassador highlighted the importance of China's sustainable economic growth for global development and noted Kazakhstan's special role as a reliable partner on the path to modernization and strengthening bilateral relations.
The Steady Movement of China's Economy Amid Stability Enhances the Potential for China-Kazakhstan Cooperation. Zhang Xiao, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the Republic of Kazakhstan
During the National Day celebrations of the People's Republic of China from October 1 to 7, consumer markets across China were thriving, filled with vitality for prosperity, and the economic activity during the holiday continued to grow. According to statistics, 765 million domestic tourist trips were recorded across the country, a 10.2% increase compared to the same period in 2019. The total spending of domestic tourists amounted to 700.8 billion yuan, 7.9% higher than the same period in 2019. 2.519 million consumers purchased home appliances from eight major categories (refrigerators, washing machines, televisions, air conditioners, computers, water heaters, home ovens, and exhaust hoods), exceeding 3.74 million units, with total sales reaching 17.84 billion yuan. Box office receipts in China totaled 2.104 billion yuan, with over 52 million cinema-goers. During the holiday, a total of 13.098 million people entered and exited the country, a 25.8% increase compared to the same period last year. The total number of inbound tour bookings for China increased by approximately 60% compared to the previous year, and many Chinese cities became popular destinations for foreign tourists. Outbound trips doubled compared to the same period last year, with the highest increase in bookings from countries participating in the "Belt and Road Initiative." Bloomberg and other media outlets noted that the consumer market boom during the holiday was a clear sign of China's economic resilience, vast potential, and robust vitality, while outbound trips by Chinese tourists also contributed to local economic development.
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Recently, China has effectively implemented existing policies and ramped up efforts to launch a package of additional measures. A series of measures were comprehensively implemented to promote economic development in five key areas: strengthening countercyclical adjustments to macroeconomic policy, expanding effective domestic demand, increasing support for enterprises, promoting the stabilization of the real estate market, and stimulating the capital market. On the eve of China's National Day, the Chinese government introduced several measures, such as reducing reserve requirement ratios, lowering interest rates, and existing mortgage rates, which significantly boosted market confidence and unlocked market potential. Net inflows into Chinese equity funds exceeded $13 billion in the week ending October 2, setting a record for the highest weekly inflow ever. During the National Day holiday, overseas Chinese assets, such as Chinese concept stocks and Chinese stocks in Hong Kong, performed well. Many international financial institutions, such as BlackRock, UBS, and Goldman Sachs, expressed optimism about the Chinese stock market and increased their investments in the Chinese stock market and ratings of Chinese stocks. After the National Day holiday, the People's Bank of China, the State Financial Regulatory Administration, and the China Securities Regulatory Commission announced a series of financial measures to support high-quality economic development, sending a strong signal.
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Globally, factors of uncertainty and instability are intensifying. The latest forecast from the International Monetary Fund is that the global economy will grow by 3.2% this year, lower than the growth rate in 2023. Faced with an international environment characterized by increasing instability and unbalanced development, China's economy continues to recover and provide "stable" support and "leading" power. It continues to develop new productive forces through reforms, promote high-quality development, and inject new momentum into the global economy. China remains an important driver of global economic growth. In the first half of this year, China's GDP grew by 5.0% year-on-year, ranking among the best among the world's largest economies. At the Third Plenum of the 20th Central Committee of the Communist Party of China, held in July this year, systematic measures were adopted to further deepen reforms to advance Chinese modernization. China's further comprehensive deepening of reforms and promotion of high-level openness will not only open broad prospects for its own development but also bring new momentum and new opportunities for the development of Kazakhstan and other countries around the world.
China and Kazakhstan are eternal comprehensive strategic partners and "companions" on the path of modernization. Since the beginning of this year, Kazakhstan's transport and logistics terminal in Xi'an has officially started operating, and the number of China-Europe freight trains passing through Kazakhstan exceeded 10,000, 20 days earlier than last year. From January to August, the trade volume between the two countries reached $29.1 billion, an increase of 15.6% year-on-year.
The "Year of Kazakhstan Tourism" in China in 2024 is in full swing, and in the first half of the year, more than 69,000 Chinese tourists visited Kazakhstan. The next "golden 30 years" of China-Kazakhstan relations open new historical development opportunities for both countries. China is ready to work with Kazakhstan to use President Xi Jinping's successful visit to Kazakhstan to build a more meaningful and dynamic China-Kazakhstan community of shared destiny and bring more positive energy to the economic and social development and well-being of the peoples of both countries.
