Lin Jian, a spokesperson for the Chinese Foreign Ministry. Photo: VCG

China's economy has the strength to move forward and weather storms in the face of complex and volatile international conditions, and the country stands ready to share with the world the dividends and opportunities of high-quality development and join hands in promoting global modernization process, China's Foreign Ministry said on Thursday.

Lin Jian, a spokesperson from the ministry, make the remarks as the World Bank on Tuesday raised China's 2024 economic growth forecast from 4.5 percent to 4.8 percent.

"We have taken note of the World Bank's report as well as the fact that the IMF has recently raised China's GDP growth forecast for this year once again, by 0.4 percentage points from its April projection," Lin said.

The upward revision of China's GDP growth forecast by more international organizations fully demonstrates the international community's confidence in the country's economic growth, Lin noted.

The World Bank mentioned that China's goods exports and other economic activity was stronger than expected. Data from China's General Administration of Customs showed that the country's foreign trade in goods grew by 6.3 percent year-on-year in the first five months this year. 

"Whether it is as the world's major manufacturing country that provides affordable goods for the markets of various countries, or as the world's major consuming country that creates demand for the products of various countries, China has played a positive and notable role," Lin said.

As the world's second largest economy, China's contribution to the world's economic growth has been significant for a long time. The sustained and stable growth of the Chinese economy is a tremendous boost to the recovery of the world economy, said the spokesperson.

Previous studies by the IMF have shown that every 1 percentage point increase in GDP growth in China would, on average, increase the level of output in other economies by 0.3 percent over the medium term, Lin noted.


Global Times