Current location:Culture Corridor news portal > business
China expected to continue contributing over 30% to global growth in 2024: economist
Culture Corridor news portal2024-05-21 15:57:12【business】7People have gathered around
Introduction(ECNS) -- Global economic growth is projected to decrease to 2.7 percent, and if China maintains a g
(ECNS) -- Global economic growth is projected to decrease to 2.7 percent, and if China maintains a growth rate of 5 percent, it is expected to continue contributing over 30 percent to global growth, thereby driving global demand, said Zhu Min, vice chairman of China Center for International Economic Exchanges (CCIEE) and former deputy managing director of the International Monetary Fund (IMF), on Wednesday.
Zhu said at a book launch that 2024 will be a year of mediocrity for the global economy and financial risks would accumulate, with the greatest coming from politics. However, he expressed optimism about the future under the technological wave represented by large models like GPT.
Zhu specifically pointed out that the primary technological focus in 2024 is the capitalization of data. In the second half of 2023, the Chinese Ministry of Finance introduced provisions on enterprise data resources, allowing data to be recognized as assets on the balance sheet, which is a fundamental change.
Speaking about China's contribution to global economic recovery, Zhu said that in 2023, its economic growth rate hit 5.2 percent, significantly higher than the global economic growth of around 3 percent. The expected contribution to global growth is anticipated to exceed 30 percent, which he described as "significant." In 2024, the momentum is expected to continue.
In 2023, China's total retail sales of consumer goods amounted to 47.1495 trillion Chinese yuan(about $6.58 trillion), showing a growth of 7.2 percent compared to the previous year. Zhu Min emphasized that the enhancement of domestic consumption in China has a significant impact on the world.
Additionally, in the new year, China plans to increase investments in technology and green infrastructure, constructing more digital centers, blockchain infrastructure, 5G facilities, and supporting global dataization. This is expected to be a major driving force for China's contribution to the global economy, he said.
Address of this article:http://italy.carpetcleaningepping.com/html-30a599953.html
Very good!(43551)
Related articles
- Adams, Reyna, Turner, Ream are US concerns ahead of Copa America
- Call for schools soft drink ban renewed after government implements cellphone ban
- No sanctions on China over Hong Kong: PM
- Coronavirus: China to temporarily ban foreign nationals from entering in bid to reduce COVID
- I was 'brokefished' by my friend for £400
- Winston Peters 'not going back' on co
- Ukraine lowers conscription age after drop in volunteers to fight Russian invasion
- Government holds first carbon auction of the year after four failures
- Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
- Live export ban petition passes 20,000 signatures, organiser wants five times that
Popular articles
Recommended
What a blast to work at NASA. Space agency is sky
Peregrine lander: Technical hitch threatens US Moon mission
Government agencies' Gloriavale response not being extended
Bangladesh PM Hasina secures fourth straight term in vote boycotted by main opposition
Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
Hong Kong news: Hong Kong police block Tiananmen Square candlelit vigil
Roberto Cavalli: Italian fashion designer dies aged 83
Coronavirus: WHO denies withholding information over China pressure
Links
- English fishing village told to boil water after outbreak from parasite sickens over 45 people
- Queen Maxima of the Netherlands looks pristine in a one
- What to expect in Kentucky's primaries
- Isco fractures fibula and is out of contention for Spain's European Championship squad
- Former Turkey coach Fatih Terim leaves Greek club Panathinaikos after three
- PGA rainstorm could help Valhalla bite back after Schauffele's record start
- Pride House on Seine River barge is inaugurated by Paris Olympics organizers
- John Daly withdraws from the PGA Championship with a thumb injury
- Man with Britain's largest penis reveals the downsides
- Japan passes a revised law allowing joint child custody for divorced parents for the first time