International observers have praised China's economic development for its resilience and potential, highlighting its continued ability to drive global economic growth and reinforce its role as a key player in the international economy.
Their comments on China's economy came after the country's annual Central Economic Work Conference, which was held in Beijing from Wednesday to Thursday with the key economic tasks for 2025 laid out by the Chinese leadership.
For next year, the meeting emphasized the need to maintain steady economic growth, stabilize employment and prices, ensure a basic equilibrium in the balance of payments, and increase residents' income in line with economic growth.
The meeting called for more proactive and effective macroeconomic policies to sustain the economy's upward momentum.
"The Chinese economy has shown a trend of recovery and growth this year, which is very positive for the global economy, and it is an opportunity for all the countries of the Global South. For many years, China has been the main export destination for many Argentine products, and Argentina has established a comprehensive strategic partnership with China. We should work on this foundation to further enhance relations and share development opportunities under the framework of the Belt and Road Initiative," said Silvia Lospennato, a national deputy in the Argentine National Congress.
Janusz Piechocinski, former deputy prime minister of Poland, highlighted the positive role of China's economy in a turbulent global landscape, emphasizing its potential to stabilize investments and foster optimism amid ongoing challenges.
"At a time when the world is facing wars, tensions, and trade wars, the world's second-largest economy offers us an optimistic message. Any good news will stabilize investment decisions not only in China but also in Europe, including Poland," he said.
Aliyu Iliyas, a Nigerian economist, praised China's resilience and leadership in innovation and development, emphasizing its global impact and benefits for countries like Nigeria.
"China will be able to withstand any economy globally and it's going to impact the global community very well. China has developed over time and has come to stay and is taking the lead in most parts of innovation and development. I think China's path to modernization is very critical, they are actually initiating new developments, new areas, and it's going to take the lead in terms of development for the global community. They're actually bringing solutions to new innovations, and it's going to benefit Nigeria and other continents," said Iliyas.
"China is extremely successful at innovation and, increasingly, in fact, dominating new technologies, especially zero-carbon energy systems, whether it's renewables, fourth-generation nuclear, or fast rail," said Jeffrey D. Sachs, professor at Columbia University.
The international business community in Southeast Asia remains optimistic about China's economic prospects as the country has rolled out comprehensive policies on the basis of scientific assessment to pursue sustained economic recovery.
"In the year 2024, which is now coming to an end, China's economy, despite facing numerous challenges, has still achieved impressive results. At the same time, the Chinese government has introduced a series of financial measures to support high-quality economic development, boosting confidence among investors and consumers. The Chinese government has also performed exceptionally well in preventing and mitigating risks in key sectors and addressing external shocks. Looking ahead to 2025, I believe that China's economy will continue to maintain a relatively high level of growth," said Phaichit Viboontanasarn, vice chairman and secretary general of the Thai Chamber of Commerce in China.
Christine Susanna Tjhin, director of strategic communication and research at Indonesia's Gentala Institute, highlighted China's stable GDP growth, investment in innovation, and commitment to talent development as key factors inspiring confidence in its economic trajectory.
"What generally makes me quite confident is the relatively stable GDP growth (of China) so far. I think that's a very good indication. And of course, in terms of what's also quite impressive is how China is investing heavily in research on high technology and innovation. And this kind of talent development is also quite encouraging in terms of vocational training and capacity building of their human resources," she said.
Int'l observers praise China's economic resilience, key role in global growth
