Xinhua News Agency, Boao, Hainan, March 29Question: People from many countries look forward to the world and China joining hands to write a new chapter in economic cooperation

Xinhua News Agency reporter

The Boao Forum for Asia Annual Conference 2024 came to an end in Boao, Hainan on the 29th. During the four-day forum, global political and business people discussed the way to development and built consensus on cooperation.

At present, the international situation is volatile and volatile, the world economy is in a downturn, and global trade is being hit by fragmentation...... Overseas guests and international observers attending the Boao Forum for Asia said that China's economic development has continued to improve its quality and upgrade, with strong momentum, showing strong resilience and certainty, and the world is looking forward to listening to China's voice, learning from China's solutions, and working together to create new opportunities for win-win results.

Provide endogenous driving force for economic growth through innovation and integrated development

"I came to China in 1976 and saw the development and changes in China. Zafar, Policy Advisor to the Secretary-General of the Boao Forum for Asia, recently shared with the participants what he has seen in China for many years.

"China's rapid development can ensure green, innovative and high-quality development, which is worth learning from the world. Zafar sighed.

In 2023, China's new energy vehicle production and sales will account for more than 60% of the world's total, the penetration rate of 5G users will exceed 50%, and the export of electric vehicles, lithium batteries, and photovoltaic products will increase by nearly 30%...... The new trends, new highlights and new driving forces of China's accelerated development of new quality productive forces have attracted the attention of the world.

"China proposes to accelerate the development of new quality productive forces, not only to give birth to new industries, new models and new kinetic energy with disruptive technologies and cutting-edge technologies, but also to integrate scientific and technological innovation achievements into existing traditional industries. This shift will help China improve its total factor productivity and create new advantages for development. Deloitte China Chairman Vivian Jiang said.

"Continuously develop new quality productivity", "Invest in China, artificial intelligence+, and future industries", "Develop 'new three' industries", and "Accelerate towards zero-carbon electricity"...... Experts and overseas participants said that China continues to promote high-quality development, and effectively enhance the internal vitality of economic growth through innovation, integration and transformation, digital intelligence empowerment, and green and low-carbon development.

"Focusing on innovation and the green transition is positive. "The concept of new productivity focuses on disruptive innovation in technology and across multiple industries, and it has the potential to bring new opportunities for China's economic development and global cooperation." ”

In an interview with Xinhua News Agency, the Lao representative of the ASEAN Intergovernmental Commission on Human Rights, Yon Chantaransi, said that China's economy is steadily moving towards high-quality development and transforming to an economic model that pays more attention to productivity, efficiency and high quality. The green and high-quality development of China's economy will help drive the common development of ASEAN countries and inject green impetus into regional development.

Hedge the risk of international trade fragmentation with open and pragmatic cooperation

"None of this would be possible without China. Mark Carney, co-chair of the Glasgow Financial Alliance for Net Zero, affirmed China's role as a "stabilizer" for the Asian economy in a video message at the "Deepening Financial Cooperation in Asia" sub-forum. In the view of the participants, in the face of global challenges, it is necessary to strengthen international cooperation and China's deep participation.

In today's world, where anti-globalization is on the rise, geopolitical games are intensifying, and global trade is facing fragmentation, the panelists said that China is committed to expanding high-level opening-up, maintaining the stability of global industrial and supply chains, and promoting high-quality Belt and Road cooperation.

Marcela Bella, a scholar at the University of Santiago de Chile, said that China's Belt and Road Initiative (BRI) will help developing countries improve their infrastructure and build a solid foundation for productivity.

Bai Lefu, chief economist at the Asian Infrastructure Investment Bank, said that China has played an important role in driving the shift of the center of gravity of the global value chain to emerging economies. "Nowadays, it's easier to join a global value chain: you don't need to build a whole vehicle, you just need to build a component and become a part of it. ”

Former UN Under-Secretary-General and Executive Secretary of ESCAP Akhtar believes that the Belt and Road Initiative will help less developed countries or least developed countries develop infrastructure and obtain more equitable opportunities, and reduce the impact of their disadvantaged position under trade and geopolitical influence.

"When some countries have turned to protectionist policies, China has insisted on opening up to the outside world. Francisco Tayana, a professor at Argentina's National University of Quilmes, said that what the world economy needs is not unilateralism and "everyone for himself", but respect for multilateral cooperation, give play to the synergy between countries, and develop and move forward in deepening mutual understanding and cooperation.

Stable and strong development will enhance the certainty of global economic governance

"When we talk about the world economy, we can't talk about the Chinese economy without talking about it. Lin Yifu, honorary dean of the National School of Development of Peking University, said at the "World Economic Outlook" sub-forum that China will continue to be the main driving force for global development and is expected to contribute about 30% to world economic growth every year.

In 2023, China's economy will grow by 5.2 percent, contributing more than 30 percent to world economic growth, and in the first two months of this year, the added value of industrial enterprises above designated size will increase by 7.0 percent year-on-year, the national investment in fixed assets will increase by 4.2 percent year-on-year, and the total import and export of goods will increase by 8.7 percent year-on-year...... China's economy has overcome difficulties and injected more certainty into global economic growth with concrete actions.

The "2024 Annual Report on Asian Economic Prospects and Integration Process" released by the Boao Forum for Asia on the 26th pointed out that China's economic growth will still maintain a high level in 2024, which is enough to form a significant supporting effect on the economic growth of East Asia and even Asia. According to the results of the Global and Asian Economic Confidence Survey released on the same day, more than 60% of the members and partners surveyed are optimistic or relatively optimistic about China's economic prospects.

Wu Chun, managing partner of Boston Consulting Group China, told Xinhua News Agency that China's economy has accelerated high-quality development, and China's economy has shown strong resilience, great potential and vitality, which undoubtedly adds confidence and vitality to the recovering world economy.

Ban Ki-moon, chairman of the Boao Forum for Asia, said a few days ago that in the context of slow global economic recovery and rising protectionism, China and developing countries have always been committed to solving development problems, promoting international cooperation, and injecting impetus into world economic growth and common development. As the world's second-largest economy, what China is doing and will do has global significance. (Note-takers: Wang Jiawei, Zhong Qun, Liu Bowei)