Your current location:HOME >world >China expected to continue contributing over 30% to global growth in 2024: economist 正文
TIME:2024-05-22 11:19:15 Source: Internet compilationEdit:world
(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.
Kentucky congressman expects no voter fallout for his role in attempt to oust House speaker2024-05-22 11:05
Salary Climbing for Returning Graduates2024-05-22 11:05
Mainland Medical Experts Arrive in Hong Kong in Fighting COVID2024-05-22 11:03
Tibet Helps over 690,000 Farmers, Herders Find Jobs in 20212024-05-22 10:58
Election 2024: Nikki Haley faces a key decision on whether or not to endorse Trump2024-05-22 10:55
Kids Enjoy 'Winter Games' for New Semester2024-05-22 10:19
China Makes Progress in Consolidating Poverty Alleviation: Official2024-05-22 09:50
People Eat Laba Porridge to Greet Laba Festival2024-05-22 09:45
Julia Fox reveals when her celibacy will end as she appears in see2024-05-22 09:38
Feature: Beijing 2022 Mascot Bing Dwen Dwen Going Viral in China2024-05-22 08:55
Stanford, UCLA to meet for NCAA title in women's golf2024-05-22 11:09
Maternity Leave Extended in 25 Chinese Provinces: Official2024-05-22 11:06
China's Judicial Authorities Strengthen Protection of Women, Children2024-05-22 10:56
China Commends Outstanding Grass2024-05-22 10:47
It's so hot in Mexico that howler monkeys are falling dead from the trees2024-05-22 10:45
China Stuns Defending Champion Sweden in Olympic Women's Team Curling2024-05-22 10:40
China Launches Campaign Against Women, Child Trafficking2024-05-22 10:13
Feature: Beijing Normal University Pioneers Integrating Sports, Education2024-05-22 09:36
Testimony at Sen. Bob Menendez's bribery trial focuses on his wife's New Jersey home2024-05-22 09:21
Winter Sports Take Root in Dual2024-05-22 08:33