Chinese Foreign Ministry Spokesperson Lin Jian

 
External shocks cannot change the fundamentals of China's economy, which has a stable foundation, many advantages, strong resilience and great potential, Lin Jian, a spokesperson for the Chinese Foreign Ministry, said on Wednesday. 

Lin made the remarks during a regular press conference when responding to questions about severe challenges for the world economy due to rising unilateralism, trade war and uncertainties from certain country's tariffs, as well as China's strong attractiveness for foreign investors.

"No matter how the international situation changes, China's economy has a solid foundation and sufficient momentum to achieve stable development and move forward. China has the ability and confidence to deal with various risks and challenges," Lin said. 

China has the strong leadership of the Communist Party of China, the significant advantages of the socialist system with Chinese characteristics, the solid foundation accumulated over many years of sustained and rapid development, the super-large-scale market and the complete industrial system, and the united efforts of 1.4 billion Chinese people, Lin noted.

"External shocks cannot alter the fundamentals of China's stable economic foundation, numerous advantages, strong resilience, and vast potential. Nor can they undermine the solid progress China has made in advancing high-quality development or the vigorous growth of new quality productive forces," Lin said. 

Meanwhile, China's stable development has provided precious stability to today's turbulent world. As the world's second-largest economy, China has consistently contributed about 30 percent to global economic growth for many years, remaining the primary engine of world economic expansion, according to the spokesperson.

As the world's second-largest consumer goods market, China boasts the largest middle-income population globally. The continuous unleashing of consumption potential will transform growing "Chinese demand" into "global opportunities," he said.

China's economy is embracing the accelerated emergence of new technologies, new products, and new business models. This enables countries worldwide to increasingly share in scientific and technological dividends. 

China firmly upholds the rules-based multilateral trading system, promotes trade and investment liberalization and facilitation, and works to expand the "pie" of shared global development, according to the spokesperson. 

By delivering on its commitment to high-standard opening-up, China continues cultivating a first-class, market-oriented, law-based, and internationalized business environment, which ensures that each percentage point of China's economic growth generates greater benefits for enterprises across nations, Lin said. 

Lin said that China is willing to work with all parties to uphold true multilateralism, jointly oppose all forms of unilateralism and protectionism, jointly respond to risks and challenges, and promote the realization of inclusive economic globalization.

Many foreign businesses have recognized the importance of the Chinese market and vast opportunities it offers.

Since entering the Chinese market in 1994, Germany-based KSB, a pump and valve manufacturer, has become one of the pump manufacturing companies with the broadest product range and the highest technical level in China. 

The overall consensus among German companies on the Chinese market is that China remains an important opportunity for future global development and an important support for Germany's economic development, providing companies with broad space for development and growth, He Jun, regional executive officer of KSB Group Asia North, told the Global Times on Wednesday.

Our company has always regarded China as one of the most important strategic markets," Stephen Hauber, who oversees tesa tape (Shanghai) Co, told the Global Times on Wednesday.

Despite the uncertainties in the international environment, China has never changed its policy of opening-up and has shown high-quality and sustained economic vitality. "This gives us the confidence that the next China is still China," said Hauber.

The company said it continues the investment in China, and one of the examples is that in 2023, they invested in hole-covering automation and seal-line heat-activated tape lamination. 

"Our company will continue to be committed to leveraging advancement to drive mutual growth and innovation through strategic collaborations and investments, further contributing to China's high-quality development," Hauber said.

Global Times