The world has paid great attention on China’s ongoing economic reform and it hopes to get more opportunities from China’s development. At the Davos World Economic Forum 2014, Chinese Foreign Minister Wang Yi said that an increasingly prosperous China would offer new opportunities for the world.
Chinese economy's growth at 7 percent will contribute one percentage point to the growth of the world economy
China has made great contribution in taking sluggish world economy out of recession. Estimates show as long as China's economy continues to grow at 7 percent, it will contribute one percentage point to the growth of the world economy every year. Wang Yi said: “The Chinese economy with a size of US$9 trillion achieved a growth rate of 7.7 percent last year. It remained one of the fastest-growing economies among the G20 countries. The growth was achieved in the course of accelerated structure adjustment and therefore it was growth in real term.”
China’s increased consuming demand has boosted the prosperity of global market. According to Wang Yi, despite the lack of effective global demand, the potential of Chinese market is still growing. In 2013, Chinese bought 21 million vehicles, or more than a quarter of global car sales, and the total amount of China’s annual imports is close to 2 trillion US dollars.
“Despite the real economy facing difficulties in financing, Chinese business are becoming a major source of international investment and financing. China’s non-financial outbound direct investment has exceeded 90 billion US dollars,” said Wang Yi.