China to be biggest engine of global growth in next few years: expert

08:24, June 27, 2011      

Email | Print | Subscribe | Comments | Forum 

China will become the biggest engine of global economic growth in the next few years, claimed Zheng Xinli, Permanent Vice Chairman of China Center for International Economic Exchanges, on Sunday.

Zheng made the remarks at the ongoing Second Global Think Tank Summit, organized by the center from June 25 to 26.

He said the country's imports may reach 1.8 trillion U.S. dollars this year and total imports in the next five years will amount to 12 trillion U.S. dollars. Meanwhile, the domestic market will expand rapidly as consumption continues to speed up with the transformation of the economic growth mode.

He estimated that China's domestic market sales will continue to rise the next five years from 15 trillion U.S. dollars last year.

Zheng said the country will also use part of its huge foreign reserves for overseas investment, which will help create jobs and promote economic recovery in invested countries and regions.

As long as developing countries including the BRICS grouping (Brazil, Russian, India, China and South Africa) accelerate industrialization and urbanization, and cooperate with developed countries, the global economy will recover and track toward a stable, long-term and sustainable development path, he said.

Source: Xinhua
  Weekly review  


  • Do you have anything to say?


Special Coverage
  • Beijing-Shanghai High-Speed Train now in Operation
  • From drought to floods
Major headlines
Editor's Pick
  • Thousands of people dress as Smurfs in Brussels
  • Narcotics destroying activities mark Int'l Day Against Drug Abuse and Illicit Trafficking
  • East China coast braces for tropical storm Meari
  • China, U.S. hold 1st consultations on Asia-Pacific
  • People dressed as "Smurfs" to promote film in Mexico City
  • Mexico beats U.S. 4-2 to win CONCACAF Gold Cup
Hot Forum Discussion