China and the World Economy: Oceans That Are Connected

Today's global economy transcends national borders, connecting every country and individual as a vast ocean. From this ocean, we draw strength to jointly tackle challenges and create a bright future.

The development of the world economy exactly reveals how it is globalized. As more countries and regions work together, the global growth is promoted. The WTO had 76 members at its founding in 1995, and that number has grown to 166 today, covering nearly 8 billion people worldwide. The global trade volume has also surged significantly from 30 years ago.

Multinational corporations, the main players of outbound direct investment, are driving more and more countries to integrate into the division of labor in the global value chain. Today, the components of a single car may come from over 20 countries, and the establishment of a single R&D center may bring together more than 1,000 professionals from four continents. The world economy is just deeply interconnected.

The history of the global economy stretches so far and wide that various "rivers" around the world have flown into it. Since the 1990s, emerging markets and developing countries have become active participants in economic globalization and now occupy important positions in global industrial chains. Over the past two decades, they have contributed as much as 80% to world economic growth, becoming the main engine of global growth.

All rivers ultimately flow into the sea.With the collective rise of emerging markets and developing countries, the landscape of the global economy is evolving at an accelerated pace.

It is true that economic globalization faces many challenges, but there is no denying that it has already provided and will continue to provide strong momentum for global economic growth.

The Chinese economy is an ocean, just as the world economy is, and all seas and oceans are connected.

The Chinese economy is vast. As the world's second-largest economy, China boasts a super-sized market and enormous development potential. This ocean nurtures infinite possibilities.

The Chinese economy and the world economy are connected. China is a major trading partner of more than 150 countries and region. Over 1.2 million foreign-invested enterprises now operate in the country. China also runs businesses in more than 80% of countries and regions worldwide. After more than 40 years of reform and opening-up, the Chinese economy has become an integral part of the global economy.

The surging tides of the Chinese economy have been a major driver of the global economy. For years, China has contributed around 30% to global expansion, serving as its most powerful engine.

By tapping into the vast opportunities of the Chinese economy, more countries are embracing new possibilities. Through the China International Import Expo, Ethiopian coffee exports to China have increased significantly; via the China-Europe Railway Express, landlocked Kazakhstan has gained access to global markets, and its specialty products reaching China and beyond at a faster pace. "Go to China and do business with Chinese partners" has become the aspiration of companies from more and more countries.

Today, the world needs solidarity and cooperation more than ever. China will remain steadfast in expanding high-level opening-up and continue to push for an economic globalization that is more open, inclusive, balanced, and beneficial to all.

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