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What does China’s sustainable development mean to world?

(People's Daily Online)

09:35, April 27, 2013

Edited and Translated by Ma Xi, People's Daily Online

The contribution China made for the global economy is not only promoting the economic growth but also injecting new momentum into the sustainable development of global economy.

The biggest challenge for the global economy is achieving sustainable development, and China faces the same challenge. China’s economic transition is taking new step when developed countries continue to stimulate economic growth relaying on expanding sovereign debt and quantitative easing monetary policy.

Accelerating the transformation of the economic development pattern contributes to the re-balance of global economy. How to fill the gap left behind by the consumption need of developed countries constitutes the main risk source of global economic development. China’s need of expanding domestic consumption is a big hope for the growth in global consumption demand.

China has become the largest trade partner and the export market for more and more countries in 2012. Meanwhile, China has put forward a series of new measures to expand consumption need, press ahead with the process of urbanization, set goals for increasing resident’s income and focus on the balance between export and import, making the external world place more expectation for China’s economic outlook.

Constructing ecology civilization and exploring new industrialization road are the inevitable requirements of sustainable development of Chinese economy, which is also the common task for the developing countries’ industrialization. China’s exploration in saving resources and environment protection has provided references to other developing countries.

As a responsible country, China strives for enhancing the level of open economy, actively participating in the global economy governance and promoting globalization. China has expanded import, increased foreign investment and accelerated internationalization process of the yuan.

China’s macroeconomic policy coordination with other countries plays an important role in offsetting the impact of the international financial crisis. The country has also promoted international economy order development in a fair and rational direction. All these measures have prevented the aggravation of global protectionism and economic nationalism objectively.

China’s future economic growth will still surpass the average increase rate of the global economy, and its position as a growth engine will not change. The country’s successful economic restructuring will inject new momentum for the sustainable development of global economy.

Read the Chinese version: 中国可持续发展的世界意义, source: People's Daily, author: Zhong Sheng

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