China and the World Can Grow Together: Chinese vice premier

10:38, January 11, 2011      

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"China and the World Can Grow Together, "published by the British newspaper "Financial Times, "was written by Chinese Vice Premier Li Keqiang.

Following is the full text:

There is a long history to China's pursuit of the path of peaceful development. The Book of Songs, a collection of Chinese poems and songs compiled more than 2,000 years ago, reads, "Give relief to people who have toiled much, so they may enjoy a life of Xiaokang. Promote it (Xiaokang) throughout the Central Kingdom and peace will be secured for all the four quarters." What it means is, when people work too hard, they should be given relief so that they may lead a comfortable life. Doing so benefits the people of China and people of the world.

The term "Xiaokang" is used today to refer to a society where people can receive education, get paid through work, have access to medical services and old-age support, have a shelter and more than enough food and clothing and lead a well-off life. To build a Xiaokang society in all respects is China's development goal by 2020. The Chinese people both long for a happy and peaceful life for ourselves and hope to enjoy harmonious relations with our neighbours. China's development calls for international cooperation over the market and resources, and more importantly requires a peaceful external environment. World peace is an important condition for China to achieve Xiaokang, or moderate prosperity, and China's development in turn is conducive to world peace.

China's development benefits other countries. For the past few years, China has contributed 10-20 percent to world economic growth. Its contribution in 2009 was 50 percent. Estimates show that in 2010 China's economy grew by around 10 percent, and retail sales rose by 18.5 percent. Domestic demand contributed over 90 percent to China's growth. At the same time, expanding domestic demand has increased China's imports. It is estimated that in 2010 China's imports from other parts of the world may well top 1.39 trillion US dollars, ranking the second in the world. China needs to stabilise and expand external demand. At the same time, and more important, it will boost domestic demand. With its population making up one fifth of the world's total, China offers a market with enormous potential. We welcome the entry into our market of competitive goods and services from around the world, and will provide a fair and more transparent environment for foreign investors.

China is committed to work with other countries for a solution to the global challenge of energy and resources. In the past five years, China has worked hard to save energy and resources. China's energy consumption per unit of gross domestic product has dropped by about 20 percent. In the coming five years, China will vigorously develop the green economy and low-carbon technologies to continue to significantly bring down energy consumption and CO2 emission per unit of GDP. China relies on domestic supply for over 90 percent of its energy consumption, and will continue to rely on domestic supply to appropriately address the issue of energy and resources. By enhancing domestic exploitation and development, China will build a new group of strategic reservoirs of energy and resources.

China is a constructive player in the reform of the global economic governance structure. China is a beneficiary of economic globalisation. It calls for adjustment and reform of the international political and economic order in the course of development. China worked closely with the international community to address the financial crisis and promote global recovery and growth. The world will come to see that the constructive role China has played in global governance is helpful in getting the world economy back toward full recovery and prosperity.

By Li Keqiang, Chinese Vice Premier
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