Current location:Culture Clutch news portal > world
China expected to continue contributing over 30% to global growth in 2024: economist
Culture Clutch news portal2024-04-30 15:48:37【world】5People have gathered around
Introduction(ECNS) -- Global economic growth is projected to decrease to 2.7 percent, and if China maintains a g
(ECNS) -- Global economic growth is projected to decrease to 2.7 percent, and if China maintains a growth rate of 5 percent, it is expected to continue contributing over 30 percent to global growth, thereby driving global demand, said Zhu Min, vice chairman of China Center for International Economic Exchanges (CCIEE) and former deputy managing director of the International Monetary Fund (IMF), on Wednesday.
Zhu said at a book launch that 2024 will be a year of mediocrity for the global economy and financial risks would accumulate, with the greatest coming from politics. However, he expressed optimism about the future under the technological wave represented by large models like GPT.
Zhu specifically pointed out that the primary technological focus in 2024 is the capitalization of data. In the second half of 2023, the Chinese Ministry of Finance introduced provisions on enterprise data resources, allowing data to be recognized as assets on the balance sheet, which is a fundamental change.
Speaking about China's contribution to global economic recovery, Zhu said that in 2023, its economic growth rate hit 5.2 percent, significantly higher than the global economic growth of around 3 percent. The expected contribution to global growth is anticipated to exceed 30 percent, which he described as "significant." In 2024, the momentum is expected to continue.
In 2023, China's total retail sales of consumer goods amounted to 47.1495 trillion Chinese yuan(about $6.58 trillion), showing a growth of 7.2 percent compared to the previous year. Zhu Min emphasized that the enhancement of domestic consumption in China has a significant impact on the world.
Additionally, in the new year, China plans to increase investments in technology and green infrastructure, constructing more digital centers, blockchain infrastructure, 5G facilities, and supporting global dataization. This is expected to be a major driving force for China's contribution to the global economy, he said.
Address of this article:http://vietnam.arandomquote.com/news-85e199853.html
Very good!(52)
Related articles
- First Hong Kong tour group arrives in Beijing
- China's Lin edges compatriot Liang in men's last
- Boeing delivers B787 Dreamliner to Juneyao Airlines
- Xi Pledges China's Continuous Support for Cuba in Opposing Interference
- Xi stresses development of new productive forces, high
- Roundup: Morocco steal limelight on day of World Cup drama
- Decade after divorce, woman finds new life on two wheels
- Harbin war museum sees soaring visits
- Feature: China's satellite TV aid project enlightens remote rural villages in Africa
- Southwest China's Xizang Autonomous Region reports record tourism revenue in 2023
Popular articles
Recommended
Xi extends New Year greetings to non
China's first self
Tightening her grip on greatness
Alibaba set to launch new global headquarters next year
Interview: China's progress in environmental protection remarkable, says expert
Boeing delivers B787 Dreamliner to Juneyao Airlines
Saudi Arabia stuns Argentina in World Cup Group C
Southwest China's Xizang Autonomous Region reports record tourism revenue in 2023
Links
- Analysis: Kyle Larson settling in quickly as preparation continues for Indianapolis 500 debut
- Tuition and fees will rise at Georgia public universities in fall 2024
- Trump says New York judge won’t let him attend son’s graduation, no ruling has been made
- I'm a vet and here are my 5 unpopular opinions about pet ownership
- The push for school choice in Nebraska is pitting lawmakers against their constituents
- Chilling 911 audio reveals moment Ohio cops find Uber driver, 61, dying on 81
- It was one of the most joyous
- Ecuador rations electricity as drought persists in the northern Andes
- Michigan gets 3 years of probation for football recruiting violations
- Mesmerising charts show world's most and least populated countries over time