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European media positively evaluates China's reform and opening-up

(People's Daily Online)    14:48, August 18, 2018

Against the backdrop of rising protectionism and the struggling structural reform of Europe, many European media outlets and think tanks now seek the profound reasons for China's successful development model through the country's reform and opening-up.

China's reform and opening-up contributed significant experience to human development, and is a significant reference point for nations that are now exploring development paths, said Bogdan Góralczyk, director of the Centre for Europe at the University of Warsaw, in his signed article which was published recently.

Over the past four decades of China's reform and opening-up, China has created many unprecedented miracles in economic and social development.

China's GDP maintained an average annual growth of about 9.5 percent. Currently, China is the world's second-largest economy, the largest industrial country, the largest trader of goods, and the nation with the largest foreign-exchange reserves.

French newspaper Le Parisien reported that according to current UN standards, China has removed over 700 million people from poverty in the past 40 years, accounting for more than 70 percent of the world's total and reducing the national poverty rate to just 3 percent.

This year, the Agricultural Development Bank of China will invest 51 billion euros (about $58.2 billion) into rural infrastructure and housing construction, as well as rural industry, medical care and education. Thanks to such efforts, China's rural poor population will be rid of poverty by 2020.

China's decision to implement the reform and opening-up policy is of great wisdom, which is crucial to the development of both China and the world, said Zarko Obradovic, vice president of the Socialist Party of Serbia (SPS). He went on to add that China has made remarkable achievements in all fields over the past four decades, and has created miracles in the world's development history.

The World Bank estimates that China's economy made up 15.3 percent of the world's total in 2017, contributing 34 percent to world economic growth.

In recent years, China's economy has maintained sustained and steady growth, becoming an essential engine of global economic recovery and development, especially China's new measures to promote reform and opening-up, which will bring more opportunities to the world.

The weekly French business magazine, L'Usine Nouvelle, quotes from a survey report by French bank Natixis that China has made a reasonable and effective long-term development plan that is worth learning from.

The report noted that China's support for developing digital industry boosts the rise of a large number of internet giants and technology enterprises such as Baidu, Alibaba and Tencent. The country also strengthens regulations to ensure stability in the financial market and vigorously develops renewable energies.

In addition, the Chinese government strongly supports research and development. China's input into scientific research accounted for 2.1 percent of its GDP in 2016. The number of patent applications in China is ranked first in the world, according to the report.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Du Mingming, Bianji)

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