Setting a GDP target of around 5 percent for the year 2023 at annual “two sessions” with pledges to advance high-standard opening-up, China has presented itself as a desirable country for foreign companies and investors, Shakeel Ahmad Ramay, a political economist and CEO of the Asian Institute of Eco-civilization Research and Development, told Xinhua in a recent interview.
China has become the center of global trade and economic opportunities despite headwinds … Many leaders from Asia, Europe, Africa and other parts of the world have been visiting China recently to build strong economic and development linkages as they seek to spur economic recovery at home, Ramay said.
“China is welcoming them with open arms and working with them to make global recovery possible for world’s peace and prosperity.”
Terming China as the second largest economy in the world and a major player in the global industrial and value chains, the political economist said he is confident that China can play a central role in global economic growth, especially in the post-pandemic era.
China is already on the fast track to a full economic recovery, he said, adding that the swift recovery of business activities and normal daily lives of people after optimization of COVID-19 measures heralded a strong rebounding of China’s economy.
“China is a huge market of over 1.4 billion population. With new economic reforms and policies, millions of people are going to be transitioning from the lower to the middle class, and middle to the upper class, creating a huge market opportunity for international businesses … No one can afford to leave the enormous market of trillions of dollars,” he said.
The expert said China is going for the comprehensive opening-up which means the country is encouraging all the companies across the world to come and invest, adding that with the best available business environment and protection of rights of foreign investors, the Chinese market is becoming increasingly competitive.
“China has the best supply chain mechanisms, a good transportation system and a robust trade system … the best recipe for foreign investors to benefit from … so heads of many major companies across the globe are visiting China,” he said.
Commenting on China’s role in global development, Ramay said China is not only promoting high-quality green development at home, but also sharing its development dividends with other countries with a vision of building a community with a shared future for mankind and common prosperity.
The China-proposed initiatives, such as the Global Development Initiative and the Belt and Road Initiative, are promoting goals of green development and sustainable economic growth globally, helping countries achieve the well-being of their peoples and societies, he added.