Current location:health >>
China expected to continue contributing over 30% to global growth in 2024: economist
health6People have gathered around
Introduction(ECNS) -- Global economic growth is projected to decrease to 2.7 percent, and if China maintains a g ...
(ECNS) -- Global economic growth is projected to decrease to 2.7 percent, and if China maintains a growth rate of 5 percent, it is expected to continue contributing over 30 percent to global growth, thereby driving global demand, said Zhu Min, vice chairman of China Center for International Economic Exchanges (CCIEE) and former deputy managing director of the International Monetary Fund (IMF), on Wednesday.
Zhu said at a book launch that 2024 will be a year of mediocrity for the global economy and financial risks would accumulate, with the greatest coming from politics. However, he expressed optimism about the future under the technological wave represented by large models like GPT.
Zhu specifically pointed out that the primary technological focus in 2024 is the capitalization of data. In the second half of 2023, the Chinese Ministry of Finance introduced provisions on enterprise data resources, allowing data to be recognized as assets on the balance sheet, which is a fundamental change.
Speaking about China's contribution to global economic recovery, Zhu said that in 2023, its economic growth rate hit 5.2 percent, significantly higher than the global economic growth of around 3 percent. The expected contribution to global growth is anticipated to exceed 30 percent, which he described as "significant." In 2024, the momentum is expected to continue.
In 2023, China's total retail sales of consumer goods amounted to 47.1495 trillion Chinese yuan(about $6.58 trillion), showing a growth of 7.2 percent compared to the previous year. Zhu Min emphasized that the enhancement of domestic consumption in China has a significant impact on the world.
Additionally, in the new year, China plans to increase investments in technology and green infrastructure, constructing more digital centers, blockchain infrastructure, 5G facilities, and supporting global dataization. This is expected to be a major driving force for China's contribution to the global economy, he said.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Planet Panorama news portal”。http://southafrica.sribizinfo.com/content-74d199875.html
Related articles
Oracle bone script art exhibition unveiled in South Africa
healthTo celebrate the 2024 UN Chinese Language Day, the opening ceremony of "The Spirits on Turtle S ...
【health】
Read moreTwo Sessions
healthContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【health】
Read moreACWF President Stresses Joint Efforts to Enhance Guidance on Family Education
healthContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【health】
Read more
Popular articles
- Chinese readers find new passion for scientific literature
- In pics: torch relay of 4th Asian Para Games in Hangzhou
- ACWF Releases Q&A E
- ACWF Vows to Mobilize Women to Play Active Role in Winning Fight Against Poverty
- FDA brings lab tests under federal oversight in bid to improve accuracy and safety
- Delegations parade into stadium during opening ceremony of 4th Asian Para Games in Hangzhou
Latest articles
Uzbekistan and Japan qualify for men's Olympic soccer by reaching U23 Asian Cup final
ACWF President Stresses Women's Role in Achieving Two Centenary Goals
ACWF Calls for Women to Contribute to Economic and Social Development, Regular COVID
ACWF Encourages Women Entrepreneurs to Contribute to COVID
Billie Eilish announces 'Hit Me Hard and Soft' arena world tour
Torch relay of 4th Asian Para Games starts in Hangzhou
LINKS
- China's central bank to further optimize financial services
- China's express delivery sector sees double
- New focus boosting global supply chains
- Pereira retains light heavyweight title with 1st
- Green shift places remote northeastern Chinese city in spotlight
- SW China begins trial operation of interprovincial low
- Chinese C919 passenger plane debuts Singapore Airshow
- China's automobile manufacturing sector logs steady expansion in 2023
- I'm a career expert
- China to further enhance NEV charging facilities