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CGTN: China to promote economic growth through innovation and inauguration, nurture joint development in Asia-Pacific region – Tech

Beijing, 19 November 2020 / PRNewswire / – COVID-19 as epidemic is still widespread through the world, with Asia And the Pacific region competed hard in the pseudo-region, with the uncertainty of development giving economies varying degrees.

Economic activity in Asia According to the International Monetary Fund (IMF), the Pacific expects growth of 2.3 percent in 2020 and 6.7 percent in 2021, compared to 5.8 percent in 2020 and 3.9 percent in 2021. ).

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China, Whose economy saw positive growth in the first three quarters of this year, shared his vision to continue domestic economic recovery and mutually beneficial cooperation. Asia Pacific Chinese President Xi Jinping delivered the keynote address on Thursday in Asia-Pacific Economic Cooperation (APEC) CEO Dialogues via a video link. Beijing.

APEC, Is asia-pacific The premier economic forum was established in 1989 to take advantage of the region’s increasing dependence and enhance regional prosperity through initiatives that promote free and open trade between member economies.

Malaysia The delegation of the APEC Business Advisory Council (ABAC) is hosting the forum to set priorities after COVID-19, Malaysia This year is the host of APEC.

Addressing the leaders of Is asia-pacific Business community, Xi said Of china Sound economic recovery has proved the resilience and vitality of the Chinese economy and is believed to be “constantly moving.” China Market potential will create huge business prospects for other countries ”and will create strong momentum to sustain the steady growth of the global economy.

Promote innovation-driven development

As science and technology are playing an even more important role in increasing social productivity, Xi said that in order to achieve high quality growth driven by domestic demand, China Will vigorously promote scientific and technological innovations in the country.

He said that innovation has always been the primary driver of development China, And the country has achieved great achievements by implementing an innovation-driven development strategy.

“We will fully leverage the strength of our super-sized domestic market and the strength of its entire industrial system and redouble efforts to convert research results into real productivity,” the Chinese president said.

Maintain it Of china Long-term economic growth, Xi said, “We will strive to create an innovation system that integrates science and technology, education, industries and the financial sector, and upgrade industrial chains.”

Improvement and Opening through System Improvement

The Chinese President also emphasized that reforms in the country would have to be deepened and the market energized because this reform is important to unleash and increase productivity.

Ratio of Of china Foreign trade in GDP has fallen from 6 percent in 2014 to 32 percent in 2019, while the ratio of current account surplus to GDP has come down from 2. 4 percent in 2007 to 1 percent today.

In the seven years since the 2008 global financial crisis, the contribution of Of china Domestic demand for GDP exceeded 100 percent, making domestic consumption the main driver of its growth.

Xi said China New works of reform have entered a new phase of development, emphasizing that the country reinforces domestic circulation and domestic and international proliferation as a new mainstream model of “dual circulation” development paradigm. Will adopt to do.

However, by promoting a new development paradigm, Xi stated that “we are not pursuing a closed-door trend, but are open and mutually reinforcing domestic and international proliferation.”

In addition, the President said that China Will take further steps to remove deep-seated systemic and institutional barriers to modernization Of china Established a high-standard market system ranging from property protection and strengthening intellectual property rights to certain market restrictions, as well as improving governance and capacity, mechanisms for fair competition.

Looks forward to Asia Pacific business community

The 21 member economies of APEC represent about 60 percent of the world economy and account for about half of world trade volume in 2018.

Xi highlighted this Asia Pacific The business community is an engine promoting economic growth, and plays an important role in shaping the future of the region.

He expressed hope for the community as he suggested that the business sector should be able to promote open trade and investment as well as find ways to achieve growth, innovation-driven growth, and collaborate with each other and help the underprivileged. Should contribute to lending efforts. If necessary to maximize development outcomes.

On Friday, Xi will attend the APEC Economic Leaders meeting, which is expected to see the launch of the region’s Post 2020 vision – key policy documents that broaden the goals and guidelines for future cooperation of APEC member economies Is set for

Video – https://www.youtube.com/watch?v=1xibK9bXtUQ
Video – https://www.youtube.com/watch?v=HpMhQTc3wxQ


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