The giant Chinese online retailer Alibaba recently launched its long-awaited IPO on the New York Stock Exchange. The company raised more than 20 billion dollars, the most lucrative IPO ever in the US. “We should be grateful to our times, to the internet, to China and to SMEs,” said Mayun, board chairman of Alibaba. His words make a lot of sense. This launch indicates that more and more global investors are confident in China’s economy.

Alibaba’s growth captures China’s development in miniature. The company shows China’s booming economy and bright future; the launch also means a rising China benefits the world; the success of this company also demonstrates how China’s market and innovation are combining well together. Alibaba has grown dramatically through employing technology, introducing a new business model, and tapping market potential. Although the second largest economy, China’s online shoppers make up less than half its netizens; its E-business sales account for only 8.4% of its total sales of consumer goods. All this suggests that its consumer market has the potential for strong growth momentum.

It is self-evident that China and the rest of world together can achieve win-win economic globalization. Although its development has been subject to criticism, China is still one of the main contributors to the world economy. In 2013, China contributed 30% of world economic growth, and it offers a vast market to the rest of the world. If one takes a sensible look at China, one can see a new “ecosystem” to promote companies’ innovation and development. The Chinese government is also committed to stimulating the market, restructuring the economy and changing the development mode, moves designed to bring a brighter future.

The number of Chinese companies investing in the US is growing exponentially - 14 billion dollars in 2013. China and the US still are exploring new modes of win-win cooperation. Chinese companies are facing problems such as adapting to new regulations and maintaining momentum. They are never satisfied with temporary success but pursue long term and healthy development. China’s rapid economic development is bound to bring benefits to the rest of the world.

This article was edited and translated from 《给中国经济投信任票》, source: People's Daily