Ministry of Foreign Affairs: The Chinese economy remains an important engine of global economic growth | China | Economy
On August 16th, Foreign Ministry spokesperson Wang Wenbin presided over a regular press conference.
A reporter asked, and we noticed that a few Western politicians and media have recently claimed that a slowdown in China's economic growth may pose a risk to global economic development. What is the spokesperson's comment on this?
Spokesperson Wang Wenbin said that we have noticed the relevant arguments, which are contrary to facts. In fact, the Chinese economy continues to recover and overall rebounds, remaining an important engine of global economic growth.
Wang Wenbin introduced that in the first half of this year, China's gross domestic product (GDP) grew by 5.5% year-on-year, significantly faster than the economic growth rate of 3% for the entire year last year, and also faster than the average annual growth rate of 4.5% over the past three years due to the pandemic, exceeding the growth rate of the United States by more than 3 percentage points. The International Monetary Fund released its latest World Economic Outlook report last month, predicting that China's economy will grow by 5.2% this year, contributing one-third to global economic growth. The high-quality development of the Chinese economy has been solidly promoted, with numerous highlights of quality improvement and increment. The driving force of consumption on economic growth has significantly increased. In the first half of the year, the contribution rate of demand to China's economic growth reached 110.8%, an increase of 59.4 percentage points year-on-year. Among them, the final consumption contribution rate reached 77.2%, an increase of 46.4 percentage points.