The Central Economic Work Conference, which closed a few days ago, requested that the construction of a new development pattern should take the first step next year and see a new atmosphere. As the world's second largest economy and a major global economy that has achieved positive economic growth this year, China's construction of a new development pattern and promotion of reform and opening up from a higher starting point will provide countries around the world with a broader market and more new development opportunities.
New opportunities come from the continuous release of consumption potential. China has a large-scale market with a 1.4 billion population and is an important engine for global economic growth. As of November, Japan's exports to China have maintained positive growth for five consecutive months; Germany's Zeiss China region's latest fiscal year operating income reached 8 billion yuan, which makes China surpassed the United States and Germany to become Zeiss's largest market in the world ...... A report predicts that China's middle-income group will reach 0.8 billion in the next 15 years, with strong momentum and great potential for consumption upgrading.
The meeting put forward "adhere to the strategic basis of expanding domestic demand", stressed that "effective institutional arrangements must be made in reasonably guiding consumption, savings and investment", and made supporting policy arrangements such as expanding consumption, promoting employment and increasing investment. Ding, a researcher at the Asian Economic Research Institute of Japan, believes that the meeting proposed to insist on expanding domestic demand, focusing on demand-side management, optimizing the income distribution structure, and expanding middle-income groups. These are very critical for China to form a strong domestic market and achieve high-quality development.
Opportunities come from the firm pace of expanding opening up. China adheres to a mutually beneficial and win-win opening strategy, continues to promote the expansion of opening up, strives to improve the investment and business environment, and greatly reduces restrictions on foreign investment access. It is one of the most popular foreign investment destinations in the world. This year, global cross-border investment has been hit hard by the epidemic, but China's actual use of foreign capital has shown a steady and positive trend, becoming one of the few major economies in the world to attract foreign investment to maintain growth. Bloomberg News reported that international investment giants are optimistic about China's huge opportunities and have launched new strategies focusing on China. Morgan Stanley is "a huge beneficiary of this openness," according to its Asia-Pacific executive ".
The meeting stressed the need to "comprehensively promote reform and opening up" and proposed to "strengthen international macro-policy coordination", "create a market-oriented, rule-of-law and international business environment", "actively consider joining the Comprehensive and Progressive Trans-Pacific Partnership Agreement" ...... A series of clear and powerful policy signals demonstrate China's determination to implement "greater scope, broader areas and deeper opening up to the outside world. Yu Hong, a senior researcher at the Institute of East Asian Studies at the National University of Singapore, said that China's comprehensive promotion of reform and opening up and attracting more foreign investment by improving the business environment will help China's economic development and contribute to the recovery of the world economy.
New opportunities come from innovation-driven development strategies. Innovation plays a central role in the overall situation of China's modernization drive, and is the key to solving the problem of unbalanced and inadequate development and promoting high-quality development. This meeting will strengthen the national strategic scientific and technological strength as the first key task next year. In the future, with the continuous enhancement of new momentum of China's innovation and development and the rapid growth of new industries, the vitality of China's economy will further burst out, which will effectively promote global growth.
International Data Corporation recently released a report predicting that China's share of the global artificial intelligence market will reach 15.6 in 2024, becoming an important driving force for global market growth. Saudi Arabia's Finance Minister Mohamed Jadan said that as Saudi Arabia expands digital services to the entire country, many Chinese companies have helped the country's development in areas such as 5G. "We attach great importance to our Chinese cooperation partner and hope to expand the cooperative relationship between the two countries in the process of further developing the digital economy."

China's development cannot be separated from the world, and the world's prosperity also needs China. As China begins a new journey to build a modern socialist country in an all-round way, the high-quality development of China's economy will inject more confidence and vitality into the world in the post-epidemic era. (Reporter Li Jie)

Source: Xinhua News Agency