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China's contribution to world's economic growth to exceed 20%
2009-11-17 09:22:23Source:People′s Daily OnlineAuthor:
The worst of the global downturn had passed with joint efforts from countries around the world, said Cheng Siwei, chairman of International Finance Forum (Beijing), former vice chiarman of the Standing Committee of the National People's Congress. Chinese economy has hit the bottom and rebounded, and world's economy is on the winding road to revitalization. It can be expected that world's economy may recover to positive growth by 2011.
He stated that during the financial crisis, the whole world cast their eyes on China, even hoping that China would take the lead. However, China's GDP only takes up by 6 percent of the world's and average GDP ranks outside the top 100, so China is not likely to be a global leader, instead just able to afford responsibility in accordance with its strength and development level. China should firstly do its own things well, and its economic growth rate will reach 8 percent this year, which contributes to more than 20 percent toward world's economic growth. That is the contribution of China for global economic development.
As a conclusion, Cheng stressed the balance between savings and consumption, domestic and foreign demands, financial innovation and supervision, virtual economy and real economy, economic development and sustainable development, regional integration and economic globalization.
He stated that during the financial crisis, the whole world cast their eyes on China, even hoping that China would take the lead. However, China's GDP only takes up by 6 percent of the world's and average GDP ranks outside the top 100, so China is not likely to be a global leader, instead just able to afford responsibility in accordance with its strength and development level. China should firstly do its own things well, and its economic growth rate will reach 8 percent this year, which contributes to more than 20 percent toward world's economic growth. That is the contribution of China for global economic development.
As a conclusion, Cheng stressed the balance between savings and consumption, domestic and foreign demands, financial innovation and supervision, virtual economy and real economy, economic development and sustainable development, regional integration and economic globalization.
