Interview: China's economic landscape displays stable, diversified trend: economist
MACAO, March 28 (Xinhua) -- China's economic landscape is displaying a stable and diversified trend, said Maggie Xiaoqing Fu, a professor at the University of Macao, with positive prospects for the around 5 percent GDP growth target announced during the "two sessions."
The ongoing supply-side structural reforms are pivotal in optimizing the economic structure, the professor in finance and business economics told Xinhua, adding that an increasing proportion of service and high-tech industries can inject new momentum into economic growth.
She said in an interview ahead of the Boao Forum for Asia Annual Conference 2024 that China has the advantage of concentrating efforts to accomplish major tasks. "It can not only adjust across cycles but also counter-cyclically regulate its economy."
Fu also explained how the "new quality productive forces," a new concept in China's development, is poised to accelerate growth across the region.
"By harnessing new technologies, industries, and formats, the Chinese economy can accelerate industrial upgrading, enhance innovation capabilities, and promote regional economic integration," she said, noting that it will also create a more open, inclusive, and beneficial economic pattern in the Asian region.
On innovation and China's focus on digitalization and green development, she said the rapid development in sectors such as solar photovoltaics, electric vehicles, and lithium batteries elevates China's position in the global industrial and value chains and provides robust support for global efforts to address climate change challenges.
As green development is a key measure to address global climate change, she highlighted the importance of international cooperation. The green initiatives undertaken by other Asian countries, from Singapore's Green Plan 2030 to India's investment in renewable energy, show a collective commitment to sustainable growth, she said.
Fu envisioned deeper cooperation through strengthened top-level communication, fostering green industries, and reforming global environmental governance to achieve collective green development.
Related articles
Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry
Hollywood star Shia LaBeouf has shocked onlookers after being spotted on the streets of Barry in Wal2024-05-21- Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-21
China thrives as center of global brand exports
China is emerging as an important export hub for international carmakers as they rev up efforts to m2024-05-21Traditional dance helps reduce poverty in Shannan, Tibet
Aerial photo shows Nyima performing Jiuhe Zhuo dance at a primary school in Qonggyai County in Shann2024-05-21- The 'real-life Martha' from Baby Reindeer bombarded Sir Keir Starmer with almost 300 emails, it has2024-05-21
People of Yao ethnic group perform during harvest festival in Guangxi
People of the Yao ethnic group perform during the folk Panwang Festival as well as a harvest festiva2024-05-21
atest comment